Kiasu (fear of losing out, FoLO) is considered the single most defining adjective that captures Singapore identity, and it is well‐observed in other Asian cultures as well. Despite the widespread endorsement of kiasu in Singapore, there is limited empirical research on the theoretical conception of kiasu as a psychological construct. To empirically investigate kiasu, we validated the construct and measurement of the FoLO mindset in Study 1. In Study 2, we hypothesized and found a negative association between FoLO and Singaporeans’ self‐esteem, which was mediated by a higher tendency of conformity. In addition, we hypothesized and found that individuals’ need for cognitive closure (NFCC) moderated the negative link between conformity and self‐esteem such that high NFCC accelerated the negative impact of conformity on self‐esteem. Whereas FoLO is often described as a form of competitiveness, the moderated‐mediation model of FoLO and self‐esteem can be replicated with competitiveness but in an opposite direction. This demonstrated that FoLO and competitiveness are two distinct psychological constructs. Implications of FoLO in Singapore as well as in other Asian contexts are discussed.

The current research investigated the influence of the Fear of Losing Out (FoLO) mindset on learning strategy via performance goal orientation and its interaction with social comparison amongst Singaporean college students. In Study 1, a positive relationship between FoLO and performance goal orientations (i.e., avoidance and approach) was found. Study 2 replicated this finding and further revealed a downstream effect of FoLO on surface learning via performance goal orientations. In addition, social comparison moderated the link between performance goal orientation and surface learning in the mediation model. Specifically, in downward social comparison conditions, FoLO facilitated high performance-avoidance goal orientation, which in turn led to higher surface learning. Comparatively, in upward social comparison conditions, FoLO incited high performance-approach goal orientation, which in turn led to lower surface learning. Taken together, the findings yield significant theoretical and practical implications of FoLO on college students’ goal orientations and learning outcomes.