1. Panic buying? Food hoarding during the pandemic period with city lockdown
- Author
-
H. Holly Wang and Na Hao
- Subjects
0106 biological sciences ,Agriculture (General) ,Hoarding ,Panic buying ,Plant Science ,pandemics ,01 natural sciences ,Biochemistry ,S1-972 ,lockdown ,Multivariate probit model ,consumer hoarding behavior ,Food Animals ,Intervention (counseling) ,Empirical evidence ,Ecology ,food hoarding ,04 agricultural and veterinary sciences ,Mood ,Categorization ,Irrational number ,040103 agronomy & agriculture ,0401 agriculture, forestry, and fisheries ,Animal Science and Zoology ,panic buying ,Psychology ,Agronomy and Crop Science ,Social psychology ,010606 plant biology & botany ,Food Science - Abstract
Food hoarding is prevalent during the COVID-19 pandemic. To investigate the mechanism of urban consumers' food hoarding behaviors, we categorize hoarding motives into rational and irrational ones. Using random online survey samples from three cities in China, we employ the multivariate probit model to investigate the rational and irrational motives on food hoarding behavior. Our results confirmed the existence of both rational and irrational food hoarding, and also found factors attributing to the different buying behaviors. The amount of food at hand and the expectation on the infection possibility of COVID-19 are two major factors affecting rational hoarding. Bad mood and herd psychology are factors contributing to panic buying. This study provides an empirical evidence to support intervention policies aiming at mitigating panic buying behavior.
- Published
- 2020
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