New paper out on "#panic buying". In short, we find that people don't stockpile irrationally at the beginning of extreme events. When referring to "panic", many of the people we interviewed meant expected feelings like being afraid or worried.
Also many participants admitted buying slightly more things. However, they did not buy massively larger quantities. Rather, they bought more so that they could self-isolate if they got ill or because governments advised them to prepare to stay at home for prolonged periods.
The media and other people's behaviour also had an influence on subsequent behaviours, and potentially led to a self-fulfilling prophecy.
If you observe product shortages at the beginning of COVID, it's probably because of the way that modern supply chains work and not because people suddenly lost their minds :)
A short 🧵on my feelings due to my pension being slashed by almost half by @USSEmployers@UniversitiesUK. It's an act of violence. The cuts will have an impact like no other seen before. We pay huge sums of our salary to a scheme whose managers act against us. #UCUstrikes
The valuation, which was based on an outlier timepoint, was obviously flawed as many experts have shown. And yet, instead of reconsidering, they pushed forward. Despite an alternative proposal by @ucu described by many as viable.
To me thid move doesn't show ignorance, it shows intention. And this is the worst part. They are genuinely trying to destroy the sector and staff's morale.