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In These Uncertain Times: Fake News Amplifies the Desires to Save and Spend in Response to COVID-19

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  • Justin Pomerance
  • Nicholas Light
  • Lawrence E. Williams

Abstract

COVID-19 is changing human history. However, it arrived on the heels of another crisis: fake news. We examine how fake news influences consumers’ spending intentions in response to COVID-19. Across three studies we find that concerns about COVID-19 engender uncertainty, and that exposure to fake news amplifies this effect. This uncertainty increases consumers’ tendency toward two competing goals: compensatory consumption and resource conservation. We present three studies in which we measure consumers’ general preferences (study 1), their specific preferences with respect to buying food at a restaurant (study 2), and their choices when selecting from a meal delivery service (study 3). Our findings have important implications for both marketing practitioners and policy makers, which we discuss throughout.

Suggested Citation

  • Justin Pomerance & Nicholas Light & Lawrence E. Williams, 2022. "In These Uncertain Times: Fake News Amplifies the Desires to Save and Spend in Response to COVID-19," Journal of the Association for Consumer Research, University of Chicago Press, vol. 7(1), pages 45-53.
    • Handle: RePEc:ucp:jacres:doi:10.1086/711836
    DOI: 10.1086/711836
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    Cited by:

    1. Ghaznavi, Saeeda Naz & Ali, Syed Yousuf & Mahmood Khan, Neha & Fatima, Mahrukh & Shakoor, Iqra, 2022. "Factors That Motivates Fake News Sharing Among Social Media Users: A Case of an Emerging Economy," MPRA Paper 112302, University Library of Munich, Germany.
    2. Fève, Patrick & Assenza, Tiziana & Collard, Fabrice & Huber, Stefanie, 2024. "From Buzz to Bust: How Fake News Shapes the Business Cycle," TSE Working Papers 24-1516, Toulouse School of Economics (TSE).
    3. Tiziana Assenza & Fabrice Collard & Patrick Fève & Stefanie Huber, 2024. "From Buzz to Bust: How Fake News Shapes the Business Cycle," ECONtribute Discussion Papers Series 287, University of Bonn and University of Cologne, Germany.

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