Purpose–The purpose of this paper is to systematically review the literature published in
past 33 years on behavioural biases in investment decision-making. The paper highlights …

Purpose This paper developed a theoretical and research framework by identifying the
behavioral biases in investment decision and by presenting a review of the available …

We propose a theoretically motivated factor model based on investor psychology and
assess its ability to explain the cross-section of US equity returns. Our factor model …

The tendency of some investors to hold on to their losing stocks, driven by prospect theory
and mental accounting, creates a spread between a stock's fundamental value and its …

This paper tests whether the “disposition effect,” that is the tendency of investors to ride
losses and realize gains, induces “underreaction” to news, leading to return predictability. I …

The proposition that investors are overconfident about their valuation and trading skills can
explain high observed trading volume. With biased self-attribution, the level of investor …

This paper investigates the dynamics of individual portfolios in a unique data set containing
the disaggregated wealth of all households in Sweden. Between 1999 and 2002, we …

Purpose The purpose of this paper is to investigate the relationship between rational
decision-making and behavioural biases among individual investors in India, as well as to …

This study aims to examine the direct and indirect links between behavioral biases and
investor's investment decisions via the mediating role of risk perception through structural …

This paper discusses the current state of the behavioral finance literature. I argue that more
direct evidence about investors' actions and expectations would make existing theories …