嘉    宾： 苏雪娟 教授 阿尔伯塔大学

主持人： 赵    锂 副教授 上海交通大学安泰经济与管理学院

时    间： 2024年3月26日(周二)14:00-15:30

地    点:  上海交通大学徐汇校区安泰经济与管理学院B207

内容简介：

Consumer stockpiling of everyday household goods, such as toiletpaper, occurred in the wake of the COVlD-19 pandemic, resulting in shortagesof these goods in stores. Both phenomena reinforce each other: The expectationof shortages causes stockpiling behavior, which amplifies the shortages, whichin turn encourages more stockpiling.In this paper, we examine this feedbackloop.When aggregate supply is insufficient to meet aggregate demand but pricescannot adjust to clear the market, there can be multiple stationary equilibriafeaturing stockpiling at different levels. Moreover, even when thesupply-demand imbalances are very small, stockpiling can be large---suggestingthat the incentive to stockpile is driven mostly by the stockpiling behavior ofother consumers instead of the fundamental supply shortage. Transitionadynamics are examined as well. Stockpiling reduces overall welfare, and thiseffect can be particularly severe during the transitional phase.

演讲人简介：

Xuejuan Su is Professor in Economics at the University of AlbertaCanada. Her research areas are in public economics, economics of education,and industrial organization. She has research papers published in highly rankedeconomics ournals such as American Economic Journal: icroeconomicsJournal of Public Economics, Journal of Development Economics, Journal ofEconomic Dynamic and Control, Journal of Industrial Economics, andEconomic Theory, among others