Propagation Model of Panic Buying Under the Sudden Epidemic

Abstract

The sudden outbreak of COVID-19 at the end of 2019 has had a huge impact on people's lives all over the world, and the overwhelmingly negative information about the epidemic has made people panic for the future. This kind of panic spreads and develops through online social networks, and further spreads to the offline environment, which triggers panic buying behavior and has a serious impact on social stability. In order to quantitatively study this behavior, a two-layer propagation model of panic buying behavior under the sudden epidemic is constructed. The model first analyzes the formation process of individual panic from a micro perspective, and then combines the Susceptible-Infected-Recovered (SIR) Model to simulate the spread of group behavior. Then, through simulation experiments, the main factors affecting the spread of panic buying behavior are discussed. The experimental results show that: (1) the dissipating speed of individual panics is related to the number of interactions and there is a threshold. When the number of individuals involved in interacting is equal to this threshold, the panic of the group dissipates the fastest, while the dissipation speed is slower when it is far from the threshold; (2) The reasonable external information release time will affect the occurrence of the second panic buying, meaning providing information about the availability of supplies when an escalation of epidemic is announced will help prevent a second panic buying. In addition, when the first panic buying is about to end, if the scale of the second panic buying is to be suppressed, it is better to release positive information after the end of the first panic buying, rather than ahead of the end; and (3) Higher conformity among people escalates panic, resulting in panic buying. Finally, two cases are used to verify the effectiveness and feasibility of the proposed model.

Refining Community Grid Management in Medium/High-Risk Regions when SARS-COV-2 Delta Variant Attack in Yangzhou: A Qualitative Study

“…Material transportation was an inevitable problem involved in the implementation of closed management [30]. Almost everyone expressed concern about the shortage of materials, and this was where residents were most dissatis ed with community grid management.…”

Identifying a New Social Intervention Model of Panic Buying Under Sudden Epidemic

“…The causes The imbalance of commodity supply and demand (5,14,15) Individual panic emotions (16)(17)(18) The role of online social media (19)(20)(21)(22) The intervention mechanism Government perspective: government communication, government prevention and control, etc (23)(24)(25)(26) Enterprise perspective: maintain market supply balance, regulate product prices, etc (17,(27)(28)(29) Individual perspective: interpersonal intervention, behavioral cognitive therapy, etc (13,(30)(31)(32)(33) Comprehensive perspective: combined with the three-dimensional perspective of government, enterprises and individuals (34)(35)(36)(37) this article integrates the causes of panic buying and existing social intervention measures, and constructs a social intervention model for panic buying behavior in an emergency. The structure of the article is as follows: Section Literature review is a literature review.…”

“…Zhou ( 21 ) pointed out that a large number of unscientific media reports on emergencies, as well as the informal dissemination of information within the group and the infection of panic, coupled with the lag of emergency measures of government departments, would amplify the psychological expected value of individual participation in rush buying, generate a positive driving force for group rush buying behavior and aggravate the group nature of behavior. Fu et al ( 22 ) analyzed the formation and dissemination process of panic buying behavior by integrating internal and external factors such as commodity supply and demand, individual emotion and herd psychology. The result showed that the number of people in social networks and the release time of external information had an important impact on the dissemination of panic buying.…”

Research on household emergency supplies storage from the theory of planned behavior and intention-behavior gap in the context of COVID-19

“…Nowadays, a large number of studies have focused on panic buying behavior in the context of COVID-19 ( Fu et al, 2021 ; Kassas and Nayga, 2021 ) and preparedness for different types of disasters (e.g., typhoons, earthquakes, etc. ; Zaremohzzabieh et al, 2021 ; Hu et al, 2022 ; Ng, 2022 ).…”