An Economic Definition of 'Fear of Missing Out' (FOMO)

Mohammed Kaddouhah ()
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Mohammed Kaddouhah: School of Management, Swansea University

No 2023-01, Working Papers from Swansea University, School of Management

Abstract: This research note proposes an economic definition of the popular phenomenon of Fear of Missing Out (FOMO). Our definition assumes that FOMO causes individuals to base their decision-making utility on their own anticipated regret and the decisions made by individuals in their social peer group. We use an example to illustrate how to analyse decision-making under FOMO preferences and to highlight differences with the concept of regret aversion.

Keywords: anticipated regret; Fear of Missing Out; FOMO; financial decision making (search for similar items in EconPapers)
JEL-codes: D81 D91 G11 (search for similar items in EconPapers)
Pages: 10 pages
Date: 2023-09-04
New Economics Papers: this item is included in nep-ger and nep-upt
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Persistent link: https://EconPapers.repec.org/RePEc:swn:wpaper:2023-01

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