This paper estimates the impact on consumer behavior of a firm's voluntary disclosure of information. Specifically, we study the impact of Starbucks' disclosure of calorie information on its menu boards in June 2013. Using data on over 250,000 consumers' visits to specific restaurant chains, we...

This paper estimates the impact on consumer behavior of a firm’s voluntary disclosure of information. Specifically, we study the impact of Starbucks’ disclosure of calorie information on its menu boards in June 2013. Using data on over 250,000 consumers’ visits to specific restaurant...

Requiring graphic warning labels (GWLs) on cigarette packaging has become a highly contentious unresolved legal battle. The constitutionality depends, in part, on the likely impact of GWLs on smoking decisions, and whether they generate knowledge as opposed to emotional reactions against...

Smoking is the leading preventable cause of death in the U.S. Because e-cigarettes do not involve the combustion of tobacco, vaping offers the potential to prevent most of the health consequences of smoking. We study the impact of an information shock created by an outbreak of lung injuries...