Journal of Economic Perspectives
ISSN 0895-3309 (Print) | ISSN 1944-7965 (Online)
Social Media and Fake News in the 2016 Election
Journal of Economic Perspectives
vol. 31,
no. 2, Spring 2017
(pp. 211–36)
(Complimentary)
Abstract
Following the 2016 US presidential election, many have expressed concern about the effects of false stories ("fake news"), circulated largely through social media. We discuss the economics of fake news and present new data on its consumption prior to the election. Drawing on web browsing data, archives of fact-checking websites, and results from a new online survey, we find: 1) social media was an important but not dominant source of election news, with 14 percent of Americans calling social media their "most important" source; 2) of the known false news stories that appeared in the three months before the election, those favoring Trump were shared a total of 30 million times on Facebook, while those favoring Clinton were shared 8 million times; 3) the average American adult saw on the order of one or perhaps several fake news stories in the months around the election, with just over half of those who recalled seeing them believing them; and 4) people are much more likely to believe stories that favor their preferred candidate, especially if they have ideologically segregated social media networks.Citation
Allcott, Hunt, and Matthew Gentzkow. 2017. "Social Media and Fake News in the 2016 Election." Journal of Economic Perspectives, 31 (2): 211–36. DOI: 10.1257/jep.31.2.211Additional Materials
JEL Classification
- D72 Political Processes: Rent-Seeking, Lobbying, Elections, Legislatures, and Voting Behavior
- L82 Entertainment; Media
- Z13 Economic Sociology; Economic Anthropology; Language; Social and Economic Stratification
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