Remember during the COVID-19 pandemic when people were hoarding everything from toilet paper to potato chips? Or when the desire for a “must have” item drives buyers into strategic chaos to make that purchase? That type of psychological panic-buying is the economic power of scarcity.
On this episode of the Quantum Potential podcast, Provost C. Cybele Raver talks with Kelly Goldsmith, E. Bronson Ingram Chair and Professor of Marketing at the Vanderbilt Owen Graduate School of Management and a leading behavioral scientist. Goldsmith’s research explores how people respond psychologically and behaviorally to goals and threats related to resource scarcity.
Listen and subscribe to the Quantum Potential podcast, available now wherever you get your podcasts. For more information about Quantum Potential, go to vanderbilt.edu/quantumpotential.
Note: Certain brands are referenced in this conversation for informational and comparative purposes only. Such references do not imply any affiliation with, endorsement by, or official association with those brands unless explicitly stated otherwise.
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This episode was produced by Vanderbilt University and created through the collaboration of Randolph Infinger, Sydney Jones-Wright, Amber Palmer-Halma, Patrick Sams, Jennifer Stevens, Maisie Wilson, and Amy Wolf, with original music by Steven Matthew Carter.
This episode was edited and mixed by the team at Sound On // Sound Off. You can learn more about their work at SoundOnSoundOff.com.
Special thanks to Jad Abumrad, Vanderbilt University Distinguished Research Professor of Communication of Science and Technology and the executive producer of the Quantum Potential podcast and video series.
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The views and opinions expressed by guests on this podcast are their own and do not necessarily reflect those of the host or Vanderbilt University.
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