Coronavirus: The psychology of panic buying
BBCCoronavirus: The psychology of panic buying Getty Images Amid the coronavirus outbreak, people are flocking to supermarkets worldwide – but are they simply preparing, or irrationally panicking? “Under circumstances like these, people feel the need to do something that’s proportionate to what they perceive is the level of the crisis,” Taylor says. “ getting excessive play in social media and news media, and that amplifies the sense of scarcity, which worsens the panic buying,” Taylor says. All we can infer from the purchasing is the timing, so it could look panicky even if it's well thought through.” In order to face the threatening unknown, people draw on what they already know about seemingly similar threats – Helene Joffe In a 2010 study, Owen Kulemeka of the University of Illinois wrote that panic and antisocial behaviours don’t characterise pre-disaster shopping. Because when individual panic buying plays out collectively, that’s what can lead to price gouging, or low supplies for high-risk individuals who need things like face masks more than the general population does.
History of this topic
Coronavirus isn't causing Australia to run out of food — but why are shelves still bare?
ABC
Trump tells people to stop panic buying amid coronavirus pandemic: 'Relax. We're doing great'
The Independent
Coronavirus: Supermarkets appeal for public to stop panic buying as shelves emptied across UK
The Independent
Toilet paper, canned food: What explains coronavirus panic buying
Al Jazeera
When the government’s coronavirus guidance is this contradictory, you can’t blame people for panic-buying
The Independent
Spike in UK Coronavirus cases triggers panic buying fever
India Today
Coronavirus panic buying isn’t necessary. It can make things worse, experts say
LA TimesCoronavirus contagion spawns climate of panic on share markets
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