Fear of Missing Uut (FOMO) on Emerging Technology: Biased and Unbiased Adoption Decision Making

Alex Mari (), Andreina Mandelli () and René Algesheimer ()
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Alex Mari: Department of Business Administration, University of Zurich
Andreina Mandelli: SDA Bocconi School of Management, Bocconi University, Milano
René Algesheimer: Department of Business Administration, University of Zurich

No 401, Working Papers from University of Zurich, Department of Business Administration (IBW)

Abstract: Corporate decision-makers (DMs) are increasingly being challenged to adopt emerging technologies with undefined market potential while being susceptible to biases. Failure to achieve the expected benefits may affect collective and individual-level performance. Fear of missing out (FOMO) influences the ability to make rational decisions. Although FOMO can lead DMs to prioritize popular but immature technologies, there remains a limited understanding of the notion in organizational settings. Drawing on semi-structured interviews and archival data corroborated by insights from key stakeholders, our research investigates the role of FOMO when adopting emerging technology. Findings reveal that FOMO (i) is experienced by DMs experience in one of three performance levels (firm, team, employee), each differentiated by specific targets and responses, and (ii) influences the decision process both directly and via inflated expected outcomes. The mere presence of FOMO does not constitute a bias in the decision. Further, we suggest how to regulate FOMO in organizations.

Keywords: Fear of missing out; FOMO; Decision-making; Decision bias; Technology adoption (search for similar items in EconPapers)
Pages: 50 pages
Date: 2024-02
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