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All Journal Fokus Ekonomi IIJSE
Hesti, Mirna Shofa
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Economics, Econometrics & Finance

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A SYSTEMATIC LITERATURE REVIEW OF FEAR OF MISSING OUT (FOMO) IN ECONOMIC ACTIVITIES: IMPLICATIONS FOR CONSUMER BEHAVIOR AND INDIVIDUAL PSYCHOLOGY Nuraini, Fariha; Surya, Eka Putri; Rahmayanti, Dhita Aulia; Hesti, Mirna Shofa; Rosyida, Rosyida; Mukhlis, Imam; Agustin, Grisvia
Fokus Ekonomi : Jurnal Ilmiah Ekonomi Vol 19, No 2: December 2024
Publisher : STIE Pelita Nusantara Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34152/fe.19.2.290-305

Abstract

FOMO (Fear of Missing Out) is a new concept in the study of individual behavior that can influence their decisions in terms of the economy. FOMO is also a study material that is widely mentioned in the financial media today. FOMO has an influential social component to post-decision regret, especially when individuals realize other choices are better made than uncertainty. This study aims to analyze the implications of FOMO in economic activity, especially for consumer behavior and market dynamics. This research uses the SLR (Systematic Literature Review) method in Scopus articles in 2020-2024 with the presentation of analysis through the PRISMA (Preferred Reporting Items for Systematic Reviews and Meta-Analysis) model. Based on the results of predefined inclusion criteria, there are a total of 10 published articles in the last 5 years that analyze in detail about FOMO. These findings show that FOMO (Fear of Missing Out) has a relationship and influence on economic activity in terms of consumer decisions in purchasing investment, fashion products, cosmetics and luxury goods, as well as the use of technology. In addition, based on the results of SLR literature analysis using Watase Uake shows that there are grand theories related to FOMO variables, namely self-determination theory, social determination theory, and attachment theory. FOMO is a variable of economic psychology that exists in individuals at every age. The findings of this study can be a variable of social capital in further research on wise behavior, economics, and individual psychology.
The Effect of Individual Modernity, Financial Literacy, and Technology Adoption on Consumptive Behavior with Lifestyle as an Intervening Variable among College Students in Malang City Hesti, Mirna Shofa; Wahyono, Hari; Suharsono, Naswan
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 9 No 1: Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/iijse.v9i1.8558

Abstract

This study aims to determine the influence of student consumptive behavior in terms of individual modernity, financial literacy, lifestyle, and technology adoption with lifestyle as an intervening variable. The method used is quantitative with explanatory research type . The population in this study were students in Malang city while the sample of this study were students of Malang State University, Brawijaya University, Muhammadiyah University, and Islamic University of Malang. The sampling used was multistage sampling. Data were collected by means of tests and questionnaires. Hypothesis testing was carried out using the Structural Equation Model (SEM) approach based on Partial Least Square (PLS). Based on the results of the study, it is known that individual modernity has a positive effect on consumptive behavior with a P-value of 0.000 and a t-statistic value of 51.028 while modernity has no effect on lifestyle because the P-Values value is 0.965 and a t-statistic value of 0.043. The financial literacy variable does not affect consumptive behavior because the P-Values value is 0.665 while the t-statistic value is 0.433 but the financial literacy variable has a negative effect on lifestyle with a P-Values value of 0.001 and a t-statistic value of 3.370. The technology adoption variable has a positive effect on consumptive behavior with a P-Values value of 0.020 and a t-statistic value of 2.335. The technology adoption variable also has a positive effect on lifestyle with a P-Values value of 0.000 and a t-statistic value of 4.798. The lifestyle variable has a positive effect on consumptive behavior variables with a P-Values value of 0.017 and a t-statistic value of 2.393.
Co-Authors Grisvia Agustin Hari Wahyono Imam Mukhlis Naswan Suharsono Nuraini, Fariha Rahmayanti, Dhita Aulia Rosyida, Rosyida Surya, Eka Putri