{"id":"https://openalex.org/W4390879627","doi":"https://doi.org/10.1177/09722629231220985","title":"Heuristic Biases and Investment Decision-making of Stock Market Investors: A Review Paper","display_name":"Heuristic Biases and Investment Decision-making of Stock Market Investors: A Review Paper","publication_year":2024,"publication_date":"2024-01-15","ids":{"openalex":"https://openalex.org/W4390879627","doi":"https://doi.org/10.1177/09722629231220985"},"language":"en","primary_location":{"id":"doi:10.1177/09722629231220985","doi":"https://doi.org/10.1177/09722629231220985","is_oa":false,"landing_page_url":"https://doi.org/10.1177/09722629231220985","pdf_url":null,"source":{"id":"https://openalex.org/S2765024836","display_name":"Vision The Journal of Business Perspective","issn_l":"0972-2629","issn":["0972-2629","2249-5304"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","cwts-core","jufo-1","poland-40","russia-white-list-2"],"host_organization":"https://openalex.org/P4310320017","host_organization_name":"SAGE Publishing","host_organization_lineage":["https://openalex.org/P4310320017"],"host_organization_lineage_names":["SAGE Publishing"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Vision: The Journal of Business Perspective","raw_type":"journal-article"},"volume":null,"type":"article","is_traditional":true,"indexed_in":["crossref"],"open_access":{"is_oa":false,"oa_status":"closed","oa_url":null,"any_repository_has_fulltext":false},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5062101186","display_name":"Bisma Afzal Shah","orcid":"https://orcid.org/0000-0001-8211-6661","observed_orcids":["https://orcid.org/0000-0001-8211-6661"]},"institutions":[{"id":"https://openalex.org/I135388327","display_name":"University of Kashmir","ror":"https://ror.org/032xfst36","country_code":"IN","type":"education","lineage":["https://openalex.org/I135388327"]}],"countries":["IN"],"is_corresponding":true,"raw_author_name":"Bisma Shah","raw_affiliation_strings":["Department of Management Studies, University of Kashmir, Srinagar, Jammu and Kashmir, India"],"raw_orcid":"https://orcid.org/0000-0001-8211-6661","affiliations":[{"raw_affiliation_string":"Department of Management Studies, University of Kashmir, Srinagar, Jammu and Kashmir, India","institution_ids":["https://openalex.org/I135388327"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5083596850","display_name":"Khursheed Ahmad Butt","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I135388327","display_name":"University of Kashmir","ror":"https://ror.org/032xfst36","country_code":"IN","type":"education","lineage":["https://openalex.org/I135388327"]}],"countries":["IN"],"is_corresponding":false,"raw_author_name":"Khursheed Ahmad Butt","raw_affiliation_strings":["Department of Commerce, University of Kashmir, Srinagar, Jammu and Kashmir, India"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Department of Commerce, University of Kashmir, Srinagar, Jammu and Kashmir, India","institution_ids":["https://openalex.org/I135388327"]}]}],"institutions":[],"countries_distinct_count":1,"institutions_distinct_count":1,"corresponding_author_ids":["https://openalex.org/A5062101186"],"corresponding_institution_ids":["https://openalex.org/I135388327"],"apc_list":{"value":3450,"currency":"USD","value_usd":3450},"apc_paid":null,"fwci":5.0602,"has_fulltext":false,"cited_by_count":18,"citation_normalized_percentile":{"value":0.95261319,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":96,"max":99},"biblio":{"volume":null,"issue":null,"first_page":null,"last_page":null},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9702000021934509,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10047","display_name":"Financial Markets and Investment Strategies","score":0.9702000021934509,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10315","display_name":"Decision-Making and Behavioral Economics","score":0.0284000001847744,"subfield":{"id":"https://openalex.org/subfields/1800","display_name":"General Decision Sciences"},"field":{"id":"https://openalex.org/fields/18","display_name":"Decision Sciences"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T13744","display_name":"Financial Literacy and Behavior","score":0.0006000000284984708,"subfield":{"id":"https://openalex.org/subfields/1402","display_name":"Accounting"},"field":{"id":"https://openalex.org/fields/14","display_name":"Business, Management and Accounting"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/heuristic-biases","display_name":"heuristic biases","score":0.8859999775886536},{"id":"https://openalex.org/keywords/behavioral-biases","display_name":"behavioral biases","score":0.7910000085830688},{"id":"https://openalex.org/keywords/investment-decisions","display_name":"investment decision-making","score":0.8820000290870667},{"id":"https://openalex.org/keywords/stock-investors","display_name":"stock market investors","score":0.9750000238418579},{"id":"https://openalex.org/keywords/behavioral-finance","display_name":"behavioral finance","score":0.8009999990463257},{"id":"https://openalex.org/keywords/overconfidence","display_name":"overconfidence","score":0.9750000238418579},{"id":"https://openalex.org/keywords/representativeness-bias","display_name":"representativeness bias","score":0.8859999775886536},{"id":"https://openalex.org/keywords/anchoring-effect","display_name":"anchoring effect","score":0.9929999709129333},{"id":"https://openalex.org/keywords/availability-bias","display_name":"availability bias","score":0.9900000095367432},{"id":"https://openalex.org/keywords/gambler-s-fallacy","display_name":"gambler's fallacy","score":0.9710000157356262},{"id":"https://openalex.org/keywords/emerging-markets","display_name":"emerging markets","score":0.5440000295639038},{"id":"https://openalex.org/keywords/research-gap","display_name":"research gaps","score":0.6700000166893005}],"concepts":[{"id":"https://openalex.org/C37381756","wikidata":"https://www.wikidata.org/wiki/Q20203288","display_name":"Representativeness heuristic","level":2,"score":0.6661574840545654},{"id":"https://openalex.org/C189708586","wikidata":"https://www.wikidata.org/wiki/Q1504425","display_name":"Systematic review","level":3,"score":0.44690248370170593},{"id":"https://openalex.org/C204036174","wikidata":"https://www.wikidata.org/wiki/Q909380","display_name":"Stock (firearms)","level":2,"score":0.4100852310657501},{"id":"https://openalex.org/C162118730","wikidata":"https://www.wikidata.org/wiki/Q1128453","display_name":"Actuarial science","level":1,"score":0.35249602794647217},{"id":"https://openalex.org/C539667460","wikidata":"https://www.wikidata.org/wiki/Q2414942","display_name":"Management science","level":1,"score":0.3389618396759033},{"id":"https://openalex.org/C15744967","wikidata":"https://www.wikidata.org/wiki/Q9418","display_name":"Psychology","level":0,"score":0.3318917751312256},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.2941696047782898},{"id":"https://openalex.org/C17744445","wikidata":"https://www.wikidata.org/wiki/Q36442","display_name":"Political science","level":0,"score":0.23194622993469238},{"id":"https://openalex.org/C77805123","wikidata":"https://www.wikidata.org/wiki/Q161272","display_name":"Social psychology","level":1,"score":0.12216225266456604},{"id":"https://openalex.org/C127413603","wikidata":"https://www.wikidata.org/wiki/Q11023","display_name":"Engineering","level":0,"score":0.11270228028297424},{"id":"https://openalex.org/C199539241","wikidata":"https://www.wikidata.org/wiki/Q7748","display_name":"Law","level":1,"score":0.0},{"id":"https://openalex.org/C2779473830","wikidata":"https://www.wikidata.org/wiki/Q1540899","display_name":"MEDLINE","level":2,"score":0.0},{"id":"https://openalex.org/C78519656","wikidata":"https://www.wikidata.org/wiki/Q101333","display_name":"Mechanical engineering","level":1,"score":0.0}],"mesh":[],"locations_count":1,"locations":[{"id":"doi:10.1177/09722629231220985","doi":"https://doi.org/10.1177/09722629231220985","is_oa":false,"landing_page_url":"https://doi.org/10.1177/09722629231220985","pdf_url":null,"source":{"id":"https://openalex.org/S2765024836","display_name":"Vision The Journal of Business Perspective","issn_l":"0972-2629","issn":["0972-2629","2249-5304"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-c","cwts-core","jufo-1","poland-40","russia-white-list-2"],"host_organization":"https://openalex.org/P4310320017","host_organization_name":"SAGE Publishing","host_organization_lineage":["https://openalex.org/P4310320017"],"host_organization_lineage_names":["SAGE Publishing"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"Vision: The Journal of Business Perspective","raw_type":"journal-article"}],"best_oa_location":null,"sustainable_development_goals":[],"study_designs":[{"display_name":"Systematic Review","id":"https://openalex.org/study-designs/systematic-review"}],"awards":[],"funders":[],"has_content":{"grobid_xml":false,"pdf":false},"content_urls":null,"referenced_works_count":83,"referenced_works":["https://openalex.org/W69153576","https://openalex.org/W134046752","https://openalex.org/W1467477393","https://openalex.org/W1556479605","https://openalex.org/W1820632930","https://openalex.org/W1967190716","https://openalex.org/W1974902447","https://openalex.org/W1976624377","https://openalex.org/W2001403544","https://openalex.org/W2015401416","https://openalex.org/W2018221763","https://openalex.org/W2032899770","https://openalex.org/W2034625206","https://openalex.org/W2041660482","https://openalex.org/W2041946752","https://openalex.org/W2061230889","https://openalex.org/W2061592431","https://openalex.org/W2061609477","https://openalex.org/W2067017305","https://openalex.org/W2069510752","https://openalex.org/W2083847481","https://openalex.org/W2090475745","https://openalex.org/W2090637028","https://openalex.org/W2096452841","https://openalex.org/W2096574173","https://openalex.org/W2108010710","https://openalex.org/W2131773668","https://openalex.org/W2136868285","https://openalex.org/W2138053063","https://openalex.org/W2150552447","https://openalex.org/W2154844766","https://openalex.org/W2157323155","https://openalex.org/W2165893637","https://openalex.org/W2272571315","https://openalex.org/W2292269537","https://openalex.org/W2488332809","https://openalex.org/W2597793384","https://openalex.org/W2601332638","https://openalex.org/W2785794621","https://openalex.org/W2786555934","https://openalex.org/W2808229024","https://openalex.org/W2809680469","https://openalex.org/W2897890104","https://openalex.org/W2903465325","https://openalex.org/W2911336581","https://openalex.org/W2914669181","https://openalex.org/W2940897671","https://openalex.org/W2954860582","https://openalex.org/W2970700244","https://openalex.org/W3006644387","https://openalex.org/W3011865677","https://openalex.org/W3014519058","https://openalex.org/W3034609292","https://openalex.org/W3083799048","https://openalex.org/W3094557627","https://openalex.org/W3102038231","https://openalex.org/W3122260906","https://openalex.org/W3123792419","https://openalex.org/W3124506475","https://openalex.org/W3125052413","https://openalex.org/W3125388642","https://openalex.org/W3126080930","https://openalex.org/W3136244092","https://openalex.org/W3166247495","https://openalex.org/W3196279296","https://openalex.org/W3211478159","https://openalex.org/W3215329493","https://openalex.org/W4200051735","https://openalex.org/W4205584721","https://openalex.org/W4206389198","https://openalex.org/W4213190426","https://openalex.org/W4229007918","https://openalex.org/W4237570760","https://openalex.org/W4252519795","https://openalex.org/W4252681893","https://openalex.org/W4281901288","https://openalex.org/W4285193782","https://openalex.org/W4288063965","https://openalex.org/W4292157289","https://openalex.org/W4300578501","https://openalex.org/W4302793935","https://openalex.org/W4387715355","https://openalex.org/W4400902360"],"related_works":["https://openalex.org/W2020076795","https://openalex.org/W4415425423","https://openalex.org/W2954174917","https://openalex.org/W7172532688","https://openalex.org/W7111088386","https://openalex.org/W7131292038","https://openalex.org/W7220913346","https://openalex.org/W4312041750","https://openalex.org/W4385838558","https://openalex.org/W7167425663"],"abstract_inverted_index":{"This":[0],"article":[1,57,312],"builds":[2],"a":[3,17,41,61,200,314,328],"theoretical":[4],"and":[5,45,75,136,166,237,293,301,334,354,363],"research":[6,20,34,172,183,213,227,347,379],"framework":[7],"by":[8],"identifying":[9,83],"numerous":[10],"behavioural":[11,26,38,92,248,268,321],"biases":[12,249,340],"in":[13,22,87,158,216,232,258,262,317,342],"investing":[14],"decision-making":[15],"through":[16,51],"survey":[18],"of":[19,25,31,43,55,64,122,126,130,134,146,152,179,202,209,242,245,253,256,265,277,283,288,296,307,320,331,352,369],"publications":[21,194],"the":[23,32,56,65,84,88,105,119,124,128,132,137,144,147,150,171,177,186,191,210,243,251,263,275,280,286,294,305,308,311,318,338,364,375],"field":[24,42,319],"finance.":[27],"It":[28,94],"outlines":[29],"some":[30,167,208],"early":[33],"that":[35,229,377],"helped":[36],"establish":[37],"finance":[39,269,322],"as":[40],"study":[44,135,205,221,257,348],"shows":[46],"how":[47],"it":[48],"has":[49,113],"developed":[50],"time.":[52],"The":[53,204,219,345,357],"purpose":[54,178],"is":[58,222,313,349],"to":[59,97,190,272,323,335],"carry":[60],"systematic":[62,108],"review":[63,110],"literature":[66,109,246,370],"on":[67,91,224,247,290,298,374],"heuristic":[68,339],"biases,":[69],"namely":[70],"overconfidence,":[71],"representativeness,":[72],"anchoring,":[73],"availability":[74,299],"gambler\u2019s":[76],"fallacy":[77],"influencing":[78],"stock":[79],"market":[80],"investment":[81,273,343],"decisions,":[82],"major":[85],"gaps":[86],"existing":[89],"studies":[90,188,266,289,297],"biases.":[93],"also":[95,206],"aims":[96],"raise":[98],"specific":[99],"questions":[100],"for":[101,155,327],"future":[102],"research.":[103],"In":[104],"present":[106,346],"study,":[107,131],"(SLR)":[111],"technique":[112],"been":[114,197,361],"employed.":[115],"By":[116],"looking":[117],"at":[118],"research\u2019s":[120],"year":[121],"publication,":[123],"journal":[125],"publishing,":[127],"country":[129],"type":[133,255],"statistical":[138],"methods":[139],"employed,":[140],"one":[141],"can":[142],"determine":[143],"relevance":[145],"study.":[148],"On":[149],"basis":[151],"keyword":[153],"searches":[154],"\u2018behavioural":[156],"finance\u2019":[157],"various":[159],"published":[160,169,231],"journals,":[161],"conference":[162],"proceedings,":[163],"working":[164],"papers":[165,173,184,228],"other":[168],"publications,":[170],"are":[174],"analysed.":[175],"For":[176],"creating":[180],"this":[181,217,254],"article,":[182],"from":[185],"earliest":[187],"(1970)":[189],"most":[192,211],"recent":[193,212],"(2022)":[195],"have":[196,360,371],"gathered":[198],"over":[199],"period":[201],"years.":[203],"highlights":[207,250],"carried":[214],"out":[215],"area.":[218],"current":[220],"based":[223],"131":[225],"selected":[226],"were":[230],"reputable":[233],"journals":[234],"between":[235,366],"1970":[236],"2022.":[238],"A":[239],"significant":[240],"portion":[241],"body":[244],"dearth":[252,295],"emerging":[259],"nations;":[260],"increase":[261],"number":[264],"after":[267],"was":[270],"applied":[271],"decision-making,":[274],"predominance":[276],"empirical":[278],"research;":[279],"widespread":[281],"use":[282],"regression":[284],"analysis;":[285],"prevalence":[287],"overconfidence":[291],"bias":[292,300],"gamblers":[302],"fallacy.":[303],"To":[304],"best":[306],"authors\u2019":[309],"knowledge,":[310],"pioneering":[315],"work":[316],"employ":[324],"SLR":[325,353],"method":[326],"considerable":[329],"span":[330],"time":[332],"(1970\u20132022)":[333],"evaluate":[336],"all":[337],"involved":[341],"decision-making.":[344],"an":[350],"integration":[351],"bibliometric":[355],"analysis.":[356],"publications\u2019":[358],"patterns":[359],"revealed,":[362],"relationships":[365],"different":[367],"types":[368],"shed":[372],"information":[373],"direction":[376],"further":[378],"should":[380],"go":[381],"in.":[382]},"counts_by_year":[{"year":2026,"cited_by_count":9},{"year":2025,"cited_by_count":5},{"year":2024,"cited_by_count":4}],"updated_date":"2026-11-07T11:25:07.637180","created_date":"2024-01-16T00:00:00"}
