The Influence of Bounded Rationality and TikTok Social Media on Digital Investment Product Purchase Decisions in Generation Z

The development of digital investment services enables Generation Z to access information and purchase investment products more easily. However, such decisions may be associated with limitations in information processing and exposure to social media. This study examines the partial and simultaneous effects of bounded rationality and TikTok social media on Generation Z's purchase decisions regarding digital investment products. A quantitative survey approach was employed. Data were collected through questionnaires from 100 respondents selected using purposive sampling and analyzed through multiple linear regression using SPSS version 27. The results indicate that bounded rationality has a positive and significant effect on purchase decisions (B = 0.210; t = 2.012; p = 0.047). TikTok social media also has a positive and significant effect (B = 0.390; t = 3.972; p < 0.001). Simultaneously, both variables significantly affect purchase decisions (F = 19.226; p < 0.001). The adjusted R-squared value of 0.269 indicates that the model explains 26.9% of the variation in purchase decisions. These findings highlight the importance of financial literacy and critical evaluation of digital investment information.