• The Psychology of Panic Buying (and Selling)

  • 2021/08/16
  • 再生時間: 4 分
  • ポッドキャスト

The Psychology of Panic Buying (and Selling)

  • サマリー

  • Do you remember the toilet paper craze of 2020? Or the gasoline hysteria of 2021? Perhaps you were one of those people who heard about the potential shortage and immediately went to get yours. If so, this was actually a relatively normal response - and it's called "Panic Buying". 

    A recent study from the Journal of Experimental Psychology looked at the behavior triggers that lead to a buying frenzy. What they found is that uncertainty plays a major role in our purchase decisions; and not just uncertainty, but more specifically, unexpected uncertainty. 

    As chaotic as these situations were, it's normal human behavior. It's how we're wired to respond in unexpected uncertainty. And people often do the very same thing with investing. They see what everyone else is doing, they get scared, and make an impulsive decision out of fear, which doesn't end well 9 times out of 10. 

    However, there is a way we can better manage this, so we're not simply slaves to our impulses



    Find the blog version of this podcast at LuminaryWealth.com
    Or check out the video version of this podcast on our YouTube channel
    Follow us on Instagram @luminary.wealth
    Let's connect on LinkedIn

    Disclaimer:
    This podcast is not intended to provide financial or tax advice. The information, services and other content provided on and through this podcast, including information that may be provided in the show notes (directly or via linking to third-party sites), are provided for informational purposes only. Please consult with your tax, investment or other financial professional regarding your personal financial situation. 

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あらすじ・解説

Do you remember the toilet paper craze of 2020? Or the gasoline hysteria of 2021? Perhaps you were one of those people who heard about the potential shortage and immediately went to get yours. If so, this was actually a relatively normal response - and it's called "Panic Buying". 

A recent study from the Journal of Experimental Psychology looked at the behavior triggers that lead to a buying frenzy. What they found is that uncertainty plays a major role in our purchase decisions; and not just uncertainty, but more specifically, unexpected uncertainty. 

As chaotic as these situations were, it's normal human behavior. It's how we're wired to respond in unexpected uncertainty. And people often do the very same thing with investing. They see what everyone else is doing, they get scared, and make an impulsive decision out of fear, which doesn't end well 9 times out of 10. 

However, there is a way we can better manage this, so we're not simply slaves to our impulses



Find the blog version of this podcast at LuminaryWealth.com
Or check out the video version of this podcast on our YouTube channel
Follow us on Instagram @luminary.wealth
Let's connect on LinkedIn

Disclaimer:
This podcast is not intended to provide financial or tax advice. The information, services and other content provided on and through this podcast, including information that may be provided in the show notes (directly or via linking to third-party sites), are provided for informational purposes only. Please consult with your tax, investment or other financial professional regarding your personal financial situation. 

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