Misinformation, consumer risk perceptions, and markets: The impact of an information shock on vaping and smoking cessation

Lawrence Jin, Don Kenkel, Michael Lovenheim, Alan Mathios and Hua Wang

Economic Inquiry, 2024, vol. 62, issue 4, 1652-1678

Abstract: We study the impact of an information shock created by an outbreak of lung injuries apparently related to e‐cigarettes. We use data from multiple sources: surveys of risk perceptions conducted before, during, and after the outbreak; an in‐depth survey on risk perceptions and vaping and smoking behavior; and national aggregate time‐series sales data. We find that after the outbreak, consumer perceptions of the riskiness of e‐cigarettes sharply increased. From our estimated e‐cigarette demand models, we conclude that the information shock reduced e‐cigarette demand and the use of e‐cigarettes for smoking cessation by about 30 percent.

Date: 2024
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https://doi.org/10.1111/ecin.13238

Related works:
Working Paper: Misinformation, Consumer Risk Perceptions, and Markets: The Impact of an Information Shock on Vaping and Smoking Cessation (2022)
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