Coronavirus hoarding: Is it necessary?

The coronavirus has infected more than 100,000 people as of March 6, 2020, and more than 3,400 have died from it. Though health officials and governments around the world are urging caution, many people are taking that as a reason to purchase as much toilet paper, hand sanitizer, milk and other products as they can. And though the urge to stockpile is understandable, is it rational?