Unravelling Behavioral Biases in Investment Decisions: A Comprehensive Bibliometric Review and Future Research Pathways

Abstract

The articles on behavioural biases in investment decisions published in various journals with a Scopus index between 2013 and 2024are carefully examined in this research. This paper attempts to clarify the evolution, trends in studying behavioural biases in investment decisions and the importance of publications. Using performance evaluation, bibliometric coupling, co-citation analysis, and scientific mapping, the study examines 147shortlisted articles published over the last 12 years.This study investigated several topics, authorship, country collaborations, the most influential papers, co-occurrence of keywords, co-citations, prolific authors, influential institutions, and countries, as well as the scientific productivity of publications. The study deployed the VoS viewer as a tool for performanceand bibliometricanalysis. The most productive year for research on behavioural biases in investment decisions was 2024, with 39 articles. India leads the world in the production of papers on behavioural biases in investment decision research, with 77 publications. The most affiliated institution is "Sri Aurobindo College of Commerce and Management," with 3 publications and 171 citations. With 13 articles published and 587 citations, "Qualitative Research in Financial Markets" is the most productive journal.With 7 published articles and 292 citations, Jain, Jinesh,is the most prolific author. Moreover, the article "Behavioural biases in investment decision making – a systematic literature review" has the maximum number of 195 citations. Despite several limitations, including the exclusion of publications not listed in Scopus and potential linguistic bias, the results of this paper can provide academics and practitioners with useful information and indicate that behavioural biases in investment decisions research will continue to grow and develop following global trends.