Navigating the Behavioral Maze: A Bibliometric Analysis of Biases Influencing Investment Decisions

Abstract

Purpose: The study aims to conduct a bibliometric analysis to provide a comprehensive picture and identify future research directions to enrich the existing literature on behavioural biases.

Design/Methodology/Approach: The dataset comprises 701 articles from the Scopus database from the year 2000 to June 2025. Performance analysis is used to highlight the significant contributors (authors, institutions, countries and journals) and contributions (highly influential articles) in the field of behavioural finance. In addition, network analysis is used to delve into the conceptual and social structure of the research domain.

Findings: The consent review has identified that the last decades, behavioural finance research has sky rocketed in popularity. According to the results, USA, India & Germany are the top 3 countries which are well out in front in this area. The field of behavioural biases is driven by a small number of sources and writers.

Research Limitations/implications: This study extracted data from a single database i.e. Scopus, to ensure standardisation of results. Consequently, future research could broaden the scope of the bibliometric review by incorporating multiple databases.

Originality/Value: The novelty of this research is to provide valuable guidance by evaluating the existing literature and advancing the knowledge base on the conceptual and social structure of behavioural biases.