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Fake News: Susceptibility, Awareness and Solutions

Author

Listed:
  • Tiziana Assenza

    (Toulouse School of Economics, University of Toulouse Capitole, IAST)

  • Alberto Cardaci

    (Goethe University, Frankfurt. E-mail: albertocardaci@gmail.com)

  • Stefanie J. Huber

    (Department of Economics, University of Bonn; ECONtribute Research Cluster)

Abstract

This paper investigates and quantifies citizens’ susceptibility to fake news and assesses, using a randomized control trial, the effectiveness of a policy intervention to raise awareness. We find that the average citizen lacks proficiency in identifying fake news and harbors an inflated perception of his/her ability to differentiate between true and fake news content. Increasing awareness by providing information about personal susceptibility to fall for fake news causally adjusts individuals’ beliefs about their fake news detection ability. Most importantly, we show that the simple intervention of informing citizens about their personal susceptibility to fall for fake news causally increases their willingness to pay for the fact-checking service.

Suggested Citation

  • Tiziana Assenza & Alberto Cardaci & Stefanie J. Huber, 2024. "Fake News: Susceptibility, Awareness and Solutions," ECONtribute Discussion Papers Series 290, University of Bonn and University of Cologne, Germany.
    • Handle: RePEc:ajk:ajkdps:290
    as

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    File URL: https://www.econtribute.de/RePEc/ajk/ajkdps/ECONtribute_290_2024.pdf
    File Function: First version, 2024
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    More about this item

    Keywords

    Fake news; misinformation; disinformation; fact checking; information provision experiments; belief updating; willingness to pay;
    All these keywords.

    JEL classification:

    • C83 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - Survey Methods; Sampling Methods
    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making

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