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Regulation via threats: politica, media coverage, and oil pricing decisions

Public Opinion Quarterly [Spring 1990]


Copyright (c) 1990

Abstract: Using the oil crisis of the late 1970s as a case study, we examine the intertwide influences of public opinion and media attention on the credibility on regulatory threats. We focus on three factors: the intensity of public demands for regulatory intervention, the extent to which there are other competing demands on legislative attention, and the availability of scapegoats external to the industry. We use television news coverage of various topics to measure these three factors. We hypothesize that firms threatened with potential regulation restrained price increases, with the largest and most publicly visible firms exercising the greatest restraint. We find that large, visible oil firms restrained price increases for the most important decontrolled products (diesel fuel oil) when media coverage of the oil industry was extensive. These firms exercised less restraint when the government was busy with other issues or when political instability in the Middle East offered an external rationale for oil price increases.

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Publication Year:1990
Type of Material:Article
Language English
Published in: Public Opinion Quarterly
Publication Info:Volume 54 Number 1
Issue:Spring 1990
Notes:Television News Index and Abstracts listed as a reference.
Subject: Vanderbilt Television News Archive -- Research Use
Online access:
Record Number:10081
Last Update:2012-12-29 14:06:47
Date Created:0000-00-00 00:00:00