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From Perception to Action: The Influence of Distrust in Government on Panic Buying in the COVID-19 Era

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  • Sari, Emre

Abstract

This research explores the complex dynamics of panic buying during the COVID-19 pandemic. Using a comprehensive cross-sectional dataset from an online survey conducted in T¨urkiye, I employ the control function approach to examine the psychological and societal effects of the pandemic. The results show a strong positive association between the perceived adequacy of government protective measures and panic buying behavior. Moreover, the study uncovers the mediating role of individual anxiety levels in this association, highlighting the complexity of this behavior. These findings underscore the need to consider psychological components when developing crisis management strategies, particularly in health emergencies.

Suggested Citation

  • Sari, Emre, 2023. "From Perception to Action: The Influence of Distrust in Government on Panic Buying in the COVID-19 Era," GLO Discussion Paper Series 1304, Global Labor Organization (GLO).
    • Handle: RePEc:zbw:glodps:1304
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    File URL: https://www.econstor.eu/bitstream/10419/273322/1/GLO-DP-1304.pdf
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    References listed on IDEAS

    as
    1. Terza, Joseph V. & Basu, Anirban & Rathouz, Paul J., 2008. "Two-stage residual inclusion estimation: Addressing endogeneity in health econometric modeling," Journal of Health Economics, Elsevier, vol. 27(3), pages 531-543, May.
    2. Jeffrey M. Wooldridge, 2015. "Control Function Methods in Applied Econometrics," Journal of Human Resources, University of Wisconsin Press, vol. 50(2), pages 420-445.
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    More about this item

    Keywords

    Panic Buying; COVID-19 Pandemic; Government Response; Anxiety; Trust; Consumer Behavior;
    All these keywords.

    JEL classification:

    • D01 - Microeconomics - - General - - - Microeconomic Behavior: Underlying Principles
    • D91 - Microeconomics - - Micro-Based Behavioral Economics - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making
    • I12 - Health, Education, and Welfare - - Health - - - Health Behavior
    • I18 - Health, Education, and Welfare - - Health - - - Government Policy; Regulation; Public Health

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