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Learning From False Stories

Author

Listed:
  • Robin Musolff

    (University of Cologne)

  • Christopher Roth

    (University of Cologne, CESifo, NHH Norwegian School of Economics, CEPR & MPI for Behavioral Economics)

  • Florian Zimmermann

    (University of Bonn, CESifo & MPI for Behavioral Economics)

Abstract

False information pervades societies across the globe. Using incentivized online experiments, we document a qualitative residue in learning from false information: transparently debunked quantitative signals barely move beliefs, whereas debunked stories leave a substantial residual imprint, robustly across several experiments. Making the prior salient mitigates the effect, and neutral rather than evaluative stories leave no detectable residue. We show directly that false stories heighten mental simulation, including via speech-extracted valence. The residue also appears among respondents who report being uninfluenced, consistent with stories shaping beliefs below conscious awareness. Finally, a transparently disclosed deepfake significantly reduces incentivized investment.

Suggested Citation

  • Robin Musolff & Christopher Roth & Florian Zimmermann, 2026. "Learning From False Stories," ECONtribute Discussion Papers Series 412, University of Bonn and University of Cologne, Germany.
    • Handle: RePEc:ajk:ajkdps:412
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    File URL: https://www.econtribute.de/RePEc/ajk/ajkdps/ECONtribute_412_2026.pdf
    File Function: Second version, 2026
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    References listed on IDEAS

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    1. Duarte Gonc{c}alves & Jonathan Libgober & Jack Willis, 2021. "Retractions: Updating from Complex Information," Papers 2106.11433, arXiv.org, revised Feb 2025.
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    Cited by:

    1. Andrea Albertazzi & Paolo Pin & Marco Stimolo & Alessandro Stringhi, 2026. "Fooling Yourself: how narratives shape beliefs," Papers 2607.04753, arXiv.org, revised Aug 2026.

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    More about this item

    Keywords

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    JEL classification:

    • D83 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • C90 - Mathematical and Quantitative Methods - - Design of Experiments - - - General

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