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

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  • Lawrence Jin
  • Don Kenkel
  • Michael Lovenheim
  • Alan Mathios
  • Hua Wang

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.

Suggested Citation

  • Lawrence Jin & Don Kenkel & Michael Lovenheim & Alan Mathios & Hua Wang, 2024. "Misinformation, consumer risk perceptions, and markets: The impact of an information shock on vaping and smoking cessation," Economic Inquiry, Western Economic Association International, vol. 62(4), pages 1652-1678, October.
    • Handle: RePEc:bla:ecinqu:v:62:y:2024:i:4:p:1652-1678
    DOI: 10.1111/ecin.13238
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    Cited by:

    1. Bertrand Garbinti & Cecilia García Peñalosa & Vladimir Pecheu & Frédérique Savignac, 2023. "Trends and Inequality in Lifetime Earnings in France," Working papers 925, Banque de France.
    2. Michael E. Darden, 2024. "Optimal e-cigarette policy when preferences and internalities are correlated," Journal of Risk and Uncertainty, Springer, vol. 68(2), pages 107-131, April.
    3. Garbinti, Bertrand & García-Peñalosa, Cecilia & Pecheu, Vladimir & Savignac, Frederique, 2023. "Trends and Inequality in Lifetime Earnings in France," CEPR Discussion Papers 18472, C.E.P.R. Discussion Papers.

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    JEL classification:

    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior

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