ABSTRACT
Behavioral predispositions are
responsible for numerous irregularities in stock markets. Although many studies
have been conducted on the effects of these predispositions on investment
decisions, there are few studies that consider the FoMo factor in investment in
the context of behavioral biases. Theoretically, FoMo has been associated with
herding behavior, loss aversion and the desire to gain more, and these studies have
often been conducted through questionnaires. Even analyzes with data from
respondents who tend to give socially desirable answers show that individual
investors in particular are under the influence of FoMo. In the questionnaire
used in this study, photographs were used, not text. This study is unique in
this respect. The results show that participants stimulated by photographs are
frequently exposed to the FoMo effect. On the other hand, the fact that
participants get rid of this effect as soon as they encounter financial data
shows that the effect of FoMo can be reduced through financial data and facts.
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