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Title: What influences panic buying behaviour? a model based on dual-system theory and stimulus-organism-response framework
Authors: Li, Xue
Zhou, Yusheng
Wong, Yiik Diew
Wang, Xueqin
Yuen, Kum Fai
Keywords: Social sciences::Sociology
Issue Date: 2021
Source: Li, X., Zhou, Y., Wong, Y. D., Wang, X. & Yuen, K. F. (2021). What influences panic buying behaviour? a model based on dual-system theory and stimulus-organism-response framework. International Journal of Disaster Risk Reduction, 64, 102484-.
Journal: International Journal of Disaster Risk Reduction
Abstract: Panic buying has been observed across many regions during the COVID-19 pandemic which greatly disrupts supply chains and market economies. The determinants of panic buying, upon being identified, can be applied to control the escalation of panic buying behaviour that is highly detrimental to societies. This research aims to synthesise the dual-system theory and stimulus-organism-response framework to investigate into the causes of panic buying. Structural equation modelling is employed to analyse data collected from 508 residents in Singapore. The results reveal that panic buying can be explained as a response to both environmental stimuli and reflective thinking. Specifically, perceived susceptibility and perceived severity of a pandemic event as well as social influence and social norm can stimulate consumers' perceptions of scarcity and affective response, which in turn leads to the impulsive decision of panic buying; meanwhile, a rational reflection which is operationalised by perceived lack of control also influences panic buying. Furthermore, the perceived lack of control positively moderates the effect of affective response on panic buying. Theoretically, this research provides a unique explanation of panic buying. The findings also provide managerial implications on dealing with panic buying in response to disasters such as a health crisis.
ISSN: 2212-4209
DOI: 10.1016/j.ijdrr.2021.102484
Schools: School of Civil and Environmental Engineering 
Rights: © 2021 Elsevier Ltd. All rights reserved.
Fulltext Permission: none
Fulltext Availability: No Fulltext
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