Panic buying? Food hoarding during the pandemic period with city lockdown
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 m...
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| Format: | Article |
| Language: | English |
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KeAi Communications Co., Ltd.
2020-12-01
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| Series: | Journal of Integrative Agriculture |
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| Online Access: | http://www.sciencedirect.com/science/article/pii/S2095311920634487 |
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| _version_ | 1839596375901208576 |
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| author | H. Holly WANG Na HAO |
| author_facet | H. Holly WANG Na HAO |
| author_sort | H. Holly WANG |
| collection | DOAJ |
| description | 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. |
| format | Article |
| id | doaj-art-dfdaee28c1be4b3db47a9538287839a2 |
| institution | Matheson Library |
| issn | 2095-3119 |
| language | English |
| publishDate | 2020-12-01 |
| publisher | KeAi Communications Co., Ltd. |
| record_format | Article |
| series | Journal of Integrative Agriculture |
| spelling | doaj-art-dfdaee28c1be4b3db47a9538287839a22025-08-02T21:27:12ZengKeAi Communications Co., Ltd.Journal of Integrative Agriculture2095-31192020-12-01191229162925Panic buying? Food hoarding during the pandemic period with city lockdownH. Holly WANG0Na HAO1School of Economics & TTGGGI, Guizhou University, Guiyang 550025, P.R. China; Department of Agricultural Economics, Purdue University, IN 47907, USA; Correspondence H. Holly WANGSchool of Economics, Beijing Technology and Business University, Beijing 100084, P.R. China; Correspondence HAO Na, Tel: +86-10-68984648Food 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.http://www.sciencedirect.com/science/article/pii/S2095311920634487consumer hoarding behaviorpanic buyingpandemicslockdownfood hoarding |
| spellingShingle | H. Holly WANG Na HAO Panic buying? Food hoarding during the pandemic period with city lockdown Journal of Integrative Agriculture consumer hoarding behavior panic buying pandemics lockdown food hoarding |
| title | Panic buying? Food hoarding during the pandemic period with city lockdown |
| title_full | Panic buying? Food hoarding during the pandemic period with city lockdown |
| title_fullStr | Panic buying? Food hoarding during the pandemic period with city lockdown |
| title_full_unstemmed | Panic buying? Food hoarding during the pandemic period with city lockdown |
| title_short | Panic buying? Food hoarding during the pandemic period with city lockdown |
| title_sort | panic buying food hoarding during the pandemic period with city lockdown |
| topic | consumer hoarding behavior panic buying pandemics lockdown food hoarding |
| url | http://www.sciencedirect.com/science/article/pii/S2095311920634487 |
| work_keys_str_mv | AT hhollywang panicbuyingfoodhoardingduringthepandemicperiodwithcitylockdown AT nahao panicbuyingfoodhoardingduringthepandemicperiodwithcitylockdown |