We study the impact of consumers' risk perception on firm innovation. Our analysis exploits a major surge in the perceived risk of radiation diagnostic devices, following extensive media coverage of a set of over-radiation accidents involving CT scanners in late 2009. Difference-in-differences regressions using data on patents and FDA product clearances show that the increased perception of radiation risk spurred the development of new technologies that mitigated such risk and led to a greater number of new products. We provide qualitative evidence and describe patterns of equipment usage and upgrade that are consistent with this mechanism. Our analysis suggests that changes in risk perception can be an important driver of innovation and shape the direction of technological progress.

中文翻译：

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降低风险的技术：放射诊断设备的案例

我们研究了消费者风险感知对企业创新的影响。我们的分析利用了辐射诊断设备感知风险的大幅增长，此前媒体广泛报道了2009年底涉及CT扫描仪的一系列过度辐射事故。利用专利和FDA产品许可数据的差异差异回归表明：人们对辐射风险的认识不断提高，刺激了开发新技术的发展，这些新技术可减轻此类风险并带来更多新产品。我们提供定性证据，并描述与该机制一致的设备使用和升级方式。我们的分析表明，风险感知的变化可能是创新的重要驱动力，并塑造了技术进步的方向。