Analysis of Investor Decision Deviation from the Perspective of Behavioral Finance Theory

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Discussion

Analysis reveals impacts of cognitive biases on investor behavior and market efficiency, suggesting improvements.

Irrational investment decisions commonly arise from cognitive biases, affecting asset pricing and market efficiency.
Key biases include overconfidence, anchoring effect, and loss aversion, which vary across market environments and investor groups.
Systematic literature review identifies main types of decision-making biases in investors and their effects.
Strengthening investor education and improving information disclosure may enhance investment decision quality.

Jiawen Yan (2025) studied this question.

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