The Effect of Product-Harm Crisis on Consumers´ Panic Emotion and Risk Perception

The authors use risk-as-feelings hypothesis and the affect heuristic theory to illustrate that consumers´ panic will affect their risk perception when the product-harm crisis has happened. The study investigates the amplification effect of consumers´ perceived probability on objective probability for the harm of crises. Besides, there is a positive correlation between panic and perceived probability. Furthermore, we also find the divergence of perceived probability among consumers with distinct degrees of involvement when they confront distinct objective probabilities for the harm of crisis.