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Updates every hour. Last Updated: 27-May-2026 16:15 ET (27-May-2026 20:15 GMT/UTC)
Graphic anti-smoking ads can lead smokers to reconsider their habit, but in the absence of similar warnings for e-cigarettes, they make some smokers more inclined to vape than quit. That’s the key finding of new research from Washington State University demonstrating unintended consequences of using vividly graphic images of health consequences from smoking as a deterrent.
THE STUDY IN A NUTSHELL
Researchers created a new model combining the effects of cascading failures in supply chain networks and the interbank market, where banks lend money to each other.
Simulations across 1,001 scenarios modelled on the Covid-19 shock show that supply chain contagion amplifies interbank contagion by 70%.
The systemic financial risk posed by individual firms is amplified by 12–28% through interbank contagion.
Extreme loss scenarios become substantially more likely in the presence of supply chain contagion.
The model gives regulators and banks a stronger basis for assessing systemic financial risk and designing targeted intervention measures in response to pandemics, trade wars, or naval blockades.