Home Living Social Good Want to Stop Hoarding in Times of Crisis? Here's How

Want to Stop Hoarding in Times of Crisis? Here’s How

Consumer stockpiling and hoarding has taken center stage in recent months as the CCP virus has spread around the world, and with it, panic buying on the part of millions. News broadcasts and social media feeds have been filled with examples of the worst aspects of human nature.

Two marketing researchers, who were studying this phenomena in-depth long before the current pandemic, have completed research and produced a study that reveals that a consumer’s decision on how much to buy in each shopping trip depends on their current inventory, and what they expect prices to look like in the near future.

News broadcasts and social media feeds have been filled with examples of the worst aspects of human nature. (Image: via pixabay / CC0 1.0)

The forthcoming research study, which was first published in 2017 in the INFORMS journal Marketing Science, is titled Identification and Estimation of Forward-Looking Behavior: The Case of Consumer Stockpiling. It is authored by Andrew Ching of Johns Hopkins University and Matthew Osborne of the University of Toronto. Ching said:

Osborne added:

Ching went on to say:

Osborne concluded by saying:

Provided by: Institute for Operations Research and the Management Sciences [Note: Materials may be edited for content and length.]

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  • Troy was born and raised in Australia and has always wanted to know why and how things work, which led him to his love for science. He is a professional photographer and enjoys taking pictures of Australia's beautiful landscapes. He is also a professional storm chaser where he currently lives in Hervey Bay, Australia.

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