How fake news effects spread in an oligopolistic market — Evidence from the insulin market
Year: 2024
Type: article
Abstract: This study analyzes the impact of an event on November 11, 2022, when a fake “certified” Twitter account falsely claimed that Eli Lilly's insulin would be provided for free. We examine spillover effects on competitors within the insulin market oligopoly. Our findings reveal that while competitors experienced short-term impacts, these were weaker and of shorter duration compared to Eli Lilly. Spillovers within the broader pharmaceutical sector were limited to the immediate aftermath. No anticipatory behavior was detected. The effects were confined to American stock exchanges, suggesting an absence of spillovers in European markets.
Source: Finance research letters
Author: Aniss Louchez
Language: English
Subfield: Finance
Domain: Social Sciences
Open Access status: hybrid
Estimated APC paid: $3,350
OpenAlex ID: W4405220659