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桃瘾社区 Magazine

Behavioral Economics, the Media, and COVID-19

By
Lance Pauker
Posted
June 1, 2021
man with a shopping cart full of toilet paper

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When her summer internship plans fell through as a result of COVID-19, Isabelle Labianco '22 was able to rebound quickly. She spent the next several months researching the intersection between behavioral economics and media messaging; particularly, how they combined in rather unique fashion during the early months of the pandemic.

When her summer internship plans fell through as a result of COVID-19, Isabelle Labianco '22 was able to rebound quickly. Instead of a summer in an office cubicle, Isabelle was accepted to the Provost鈥檚 Summer 2020 Student-Faculty Undergraduate Research award program, and spent the next several months researching the intersection between behavioral economics and media messaging; particularly, how they combined in a rather unique fashion during the early months of the pandemic.

鈥淚 was talking with my dad; we had the news on while we were chatting. I remember listening to what was going on in the news and seeing and remembering how people might use that information to make decisions,鈥 said Isabelle. 鈥淚 decided I wanted to look at how the news affected consumer behavior in the early months of the pandemic.鈥

Specifically, Isabelle looked at how the news media affected consumer behaviors at grocery stores. The results she found were quite interesting.

鈥淲hat we found was that consumers who relied on the media as the main educational point throughout the pandemic were influenced in their consumer patterns at grocery stores,鈥 said Isabelle. 鈥淔or consumers who watched news outlets that were more left leaning, they demonstrated behaviors including stockpiling; mass purchasing of items at one time to sustain their need. On the other hand, we found more right leaning news consumers demonstrated the virus as less of a risk鈥攚e called that the 'status quo' bias.鈥

In addition to presenting at the National Conference of Undergraduate Research, Isabelle presented at the Eastern Economics Association Conference鈥攁n experience that both Isabelle and her faculty advisor, Dyson Economics Professor Joseph Morreale, PhD, highly valued.

鈥淲e have found over the years that it鈥檚 really important to have students do this kind of innovative research,鈥 said Morreale. 鈥淚n Isabelle鈥檚 case, she鈥檚 crossing two disciplines. Secondly, the experience going to a conference to deliver the paper gave her tremendous feedback鈥攚hich she would not have necessarily gotten if she was just here. We鈥檙e hopeful that once it鈥檚 revised, we鈥檒l try to get it published. We think it鈥檚 valuable enough to put forward.鈥

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