Changes in Food Spending During The Early Months of the COVID-19 Pandemic: The Role of Risk Attitudes and Personality
Presented by:
Jaclyn Kropp
Food and Resource Economics
University of Florida
Friday, November 5, 2021
12:00 pm-1:15 pm
Taylor-Hibbard Seminar Room (Rm103)
Online - https://go.wisc.edu/esfdvx
Using a nationwide survey conducted in May 2020, we investigate changes in household food purchasing behaviors in response to COVID-19. We analyze spending across ten food categories and find that respondents increased spending on canned food, dry goods, and snacks while decreasing spending on prepared meals. Ordered logit regressions reveal changes in spending are related to risk preferences, risk perceptions, and personality traits, as well as other household and demographic characteristics. Respondents who rated more places and activities as having a high risk of COVID-19 transmission were more likely to increase spending on non-perishables such as canned goods, frozen fruits and vegetables, dry goods, and frozen meals. Respondents who scored high in neuroticism were more likely to increase spending on snacks, prepared meals, frozen meals, and alcohol and decrease spending on fresh fruits and vegetables. Respondents reporting a reduction in household income due to the pandemic were more likely to decrease spending on frozen fruits and vegetables, dry goods, snack foods, prepared meals, frozen meals, dairy products, meat, and alcohol than respondents reporting no change in income or increases in household income.