“I’s Dined with Ukraine”: Empirical Analysis on Consumer Preference Change after Russo-Ukrainian War

Hanqi Ma

2022

Abstract

Recently, the Russo-Ukrainian war has become a major shock to the global market. This study investigates the impact of conflict on consumer preference and consumer rationality with empirical analysis. This paper applied the Difference-in-Difference method to measure the external shock’s (war) effect on Ukrainian and Russian restaurants. The restaurants in the control group in the DiD model are selected with the identification strategy of spatial matching. After eliminating the impact of Covid by controlling the Covid Stringency Index as a covariate, the paper constructed a Bayesian structure time series Causal Impact analysis on each Ukrainian and Russian restaurant visitor count to reflect the change in consumer preference caused by the external shock. Then, the paper proposed the mechanism behind the changes in customer visits by adopting a topic modeling approach - Latent Dirichlet Allocation and word cloud method to analyze customer reviews of these restaurants on Yelp. The results showed that terms such as “Support” and “Support Ukraine '' had become the trending words in Yelp comments since the start of the war, confirming that consumers tend to show their support by dining in Ukrainian restaurants.

Paper Citation

in Harvard Style

Ma H. (2022). “I’s Dined with Ukraine”: Empirical Analysis on Consumer Preference Change after Russo-Ukrainian War. In Proceedings of the 4th International Conference on Economic Management and Model Engineering - Volume 1: ICEMME; ISBN 978-989-758-636-1, SciTePress, pages 424-432. DOI: 10.5220/0012034100003620

in Bibtex Style

@conference{icemme22,
author={Hanqi Ma},
title={“I’s Dined with Ukraine”: Empirical Analysis on Consumer Preference Change after Russo-Ukrainian War},
booktitle={Proceedings of the 4th International Conference on Economic Management and Model Engineering - Volume 1: ICEMME},
year={2022},
pages={424-432},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0012034100003620},
isbn={978-989-758-636-1},
}

in EndNote Style

TY - CONF

JO - Proceedings of the 4th International Conference on Economic Management and Model Engineering - Volume 1: ICEMME
TI - “I’s Dined with Ukraine”: Empirical Analysis on Consumer Preference Change after Russo-Ukrainian War
SN - 978-989-758-636-1
AU - Ma H.
PY - 2022
SP - 424
EP - 432
DO - 10.5220/0012034100003620
PB - SciTePress