ijsi International Journal of Social Inquiry 1307-8364 1307-9999 Bursa Uludağ Üniversitesi 10.37093/ijsi.1764251 Econometric and Statistical Methods Ekonometrik ve İstatistiksel Yöntemler Fear of Missing Out (FOMO) and Crypto Asset Investment Behavior Fırsatları Kaçırma Korkusu (FKK) ve Kripto Varlık Yatırım Davranışı https://orcid.org/0000-0002-8932-9587 Doğan Murat MANİSA CELÂL BAYAR ÜNİVERSİTESİ https://orcid.org/0000-0001-9598-3545 Sayılır Özlem ANADOLU UNIVERSITY https://orcid.org/0000-0002-2658-4943 Sevim Nurdan BILECIK SEYH EDEBALI UNIVERSITY https://orcid.org/0000-0001-7207-0559 Kırselioğlu Dilşad ANADOLU UNIVERSITY https://orcid.org/0000-0002-4462-6238 Yesilyurt Serkan BAHCESEHIR UNIVERSITY 04 30 2026 19 1 18 34 08 14 2025 01 05 2026 Copyright © 2008, International Journal of Social Inquiry 2008 International Journal of Social Inquiry

Crypto asset investors tend to exhibit emotional consumer behavior characterized by fear and greed, which leads to Fear of Missing Out (FOMO). Therefore, this study attempts to examine the investment behavior of retail crypto investors through the lens of FOMO by investigating how self-confidence and greed contribute to this phenomenon. To achieve this, the study employs Structural Equation Modeling (SEM) based on survey data from retail investors living in Türkiye. The responses of 403 adults obtained through an online questionnaire administered to active retail crypto asset investors were analyzed to assess the relationships between Investment Behavior, FOMO, Self-Confidence, and Greed. As confirmed with the findings of our study, most of the crypto asset investors in Türkiye are young adults who use social media excessively and they are prone to FOMO. The results of our study reveal that Self-Confidence and Greed are positively associated with FOMO, which is positively associated with Investment Behavior. The results of our study may provide valuable insights for crypto asset investors, financial institutions and regulators to prevent putting investors’ financial prospects at risk due to FOMO and disinformation on social media.

Kripto varlık yatırımcıları, korku ve açgözlülükle karakterize edilen duygusal tüketici davranışları sergileme eğilimindedir; bu da Fırsatları Kaçırma Korkusu'na (Fear of Missing Out-FOMO) yol açar. Bu nedenle, bu çalışma, öz güven ve açgözlülüğün bu olguya nasıl katkıda bulunduğunu inceleyerek perakende kripto yatırımcılarının yatırım davranışını FOMO açısından incelemeyi amaçlamaktadır. Bunu başarmak için, çalışma Türkiye'de yaşayan perakende yatırımcılardan elde edilen anket verilerine dayalı olarak Yapısal Eşitlik Modelleme (SEM) kullanmaktadır. Aktif perakende kripto varlık yatırımcılarına uygulanan çevrimiçi bir anket aracılığıyla elde edilen 403 yetişkinin yanıtları, Yatırım Davranışı, FOMO, Öz Güven ve Açgözlülük arasındaki ilişkileri değerlendirmek için analiz edilmiştir. Çalışmamızın bulgularıyla doğrulandığı gibi, Türkiye'deki çoğu kripto varlık yatırımcısı, sosyal medyayı aşırı kullanan genç yetişkinlerdir ve FOMO'ya yatkındırlar. Çalışmamızın sonuçları, Öz Güven ve Açgözlülüğün FOMO ile olumlu bir şekilde ilişkili olduğunu, FOMO'nun ise Yatırım Davranışı ile olumlu bir şekilde ilişkili olduğunu ortaya koymaktadır. Çalışmamızın sonuçları, yatırımcıların finansal beklentilerini FOMO ve sosyal medyadaki yanlış bilgilendirme nedeniyle riske atmaktan korumak için kripto varlık yatırımcıları, finansal kurumlar ve düzenleyiciler için değerli bilgiler sağlayabilir.

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