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Journal of Integrative Agriculture  2020, Vol. 19 Issue (12): 2916-2925    DOI: 10.1016/S2095-3119(20)63448-7
Section 3: Food purchasing behavior and agricultural export Advanced Online Publication | Current Issue | Archive | Adv Search |
Panic buying? Food hoarding during the pandemic period with city lockdown
H. Holly WANG1, 2, HAO Na3
1 School of Economics & TTGGGI, Guizhou University, Guiyang 550025, P.R.China
2 Department of Agricultural Economics, Purdue University, IN47907, USA
3 School of Economics, Beijing Technology and Business University, Beijing 100084, P.R.China
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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. 
Keywords:  consumer hoarding behavior        panic buying        pandemics        lockdown        food hoarding  
Received: 18 May 2020   Accepted:
Fund: The authors thank the National Natural Science Foundation of China (72003008), the Social Science Funding from Beijing Municipal Education Commission, China (SM201810011002) and 2017 Beijing High Level Group Building Program, China (IDHT20170505).
Corresponding Authors:  Correspondence HAO Na, Tel: +86-10-68984648, E-mail: nahao@btbu.edu.cn   
About author:  H. Holly WANG, E-mail: wanghong@purdue.edu;

Cite this article: 

H. Holly WANG, HAO Na. 2020. Panic buying? Food hoarding during the pandemic period with city lockdown. Journal of Integrative Agriculture, 19(12): 2916-2925.

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