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Cognitive biases increase our mental efficiency by enabling us
to make quick decisions without any conscious deliberation that often lead us to irrational behaviours. These cognitive biases are hoarding of alcohol, facemasks, food items etc. Others may even make illogical decisions like ingesting fish tank cleaner containing chloroquine to prevent coronavirus infection. As a result, people panicked with the lack of supply and are forced to buy these from the hoarders at a double or triple price. Prices have increased while supply is down from the lack of production. People who act irrationally have been labelled as “covidiots”. We often think by doing something such as stockpiling our home supplies, we may mitigate unknown risks related to COVID-19. However, by crowding in the supermarkets, we may instead be placing ourselves at higher risk of infection.
The Disconfirmation of The Parents and Guardians of JCSLC's Senior High School Students in Their Online and Physical Shopping Experience During The COVID-19 Pandemic
