Using an ideal setting from a major food safety crisis, we estimate a full demand modelfor the unsafe product and its substitutes and recover consumers' preference parameters.Counterfactual exercises quantify the relevance of dierent mechanisms -changes in safetyperceptions, idiosyncratic tastes, nutritional characteristics, and prices-driving consumers'response. We find that consumers' reaction is limited by their taste for the product and itsnutritional characteristics. Due to the costs associated with switching away from the aectedproduct, the decline in demand following a product-harm crisis tends to understate the trueweight of such events in consumers' utility. Indeed, we nd that a large fraction of consumersare unresponsive to the crisis even when they significantly downgrade their product safetyperception. For an accurate assessment of the crisis, managerial strategies should thereforeaccount for how dierent demand drivers bind consumers' substitution patterns.