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

Author

Listed:
  • 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)

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.

Suggested Citation

  • Alex Mari & Andreina Mandelli & René Algesheimer, 2024. "Fear of Missing Uut (FOMO) on Emerging Technology: Biased and Unbiased Adoption Decision Making," Working Papers 401, University of Zurich, Department of Business Administration (IBW).
    • Handle: RePEc:zrh:wpaper:401
    as

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    References listed on IDEAS

    as
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    2. Bronwyn H. Hall & Beethika Khan, 2003. "Adoption of New Technology," NBER Working Papers 9730, National Bureau of Economic Research, Inc.
    3. George P. Huber & Danial J. Power, 1985. "Retrospective reports of strategic‐level managers: Guidelines for increasing their accuracy," Strategic Management Journal, Wiley Blackwell, vol. 6(2), pages 171-180, April.
    Full references (including those not matched with items on IDEAS)

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