This book suggests economic theory (rational choice theory, respectively) as a promising approach to analyze the dramatic changes overtaking today’s journalism. Referring to previous research by a small, but growing number of scholars in mass communication, journalism professors Susanne Fengler (Technical University of Dortmund) and Stephan Russ-Mohl (University of Lugano) describe journalists as rational actors seeking to maximize materialistic and non-materialistic rewards (e.g. attention, reputation, fringe benefits). The authors explain why, how and under what kind of restrictions journalists trade information for attention with their sources, calculating risks and benefits. Further, they apply economic concepts (f.e. free-riding, external effects, and principal-agent theory) to journalism to provide more in-depth explanations for specific developments such as “pack reporting.”

Conclusion: The assumption of self-interested behavior of media professionals will enable journalism scholars to systematically identify and predict failures in journalism and blind spots in media coverage.