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Study of the main behavioral biases and their impact on investor decision-making
[Étude des principaux biais comportementaux et leurs impacts sur la prise de décision chez les investisseurs]

Author

Listed:
  • Hicham Amakhir

    (National School of Business and Management – ENCG Settat, Hassan The First University, Settat, Morocco.)

  • Zakaria Benghazala

    (National School of Business and Management – ENCG Settat, Hassan The First University, Settat, Morocco.)

Abstract

Behavioral finance is a discipline that challenges the foundations of traditional finance, which are based on the concepts of market efficiency and investor rationality. Its aim is to further merge psychology with the financial field, in order to shed light on the anomalies observed in the financial markets that arise from concrete human behavior. Behavioral finance recognizes that emotions, cognitive biases and prejudices can play a significant role in financial choices. In this article, we will explore the world of behavioral finance through its key concepts and understand how it offers new insights into why investors can make seemingly irrational decisions. By analyzing how the cognitive and emotional biases of investors can influence their choices, we will be able to better understand the mechanisms that guide our choices, from risk taking to portfolio management, while recognizing that our financial behavior is often the result of a complex interaction between psychology, economics and the environment.

Suggested Citation

  • Hicham Amakhir & Zakaria Benghazala, 2023. "Study of the main behavioral biases and their impact on investor decision-making [Étude des principaux biais comportementaux et leurs impacts sur la prise de décision chez les investisseurs]," Post-Print hal-05673754, HAL.
    • Handle: RePEc:hal:journl:hal-05673754
    DOI: 10.5281/zenodo.8286517
    as

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