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@article{199088,
        author = {Ishant Manish Chatarkar and Abhijeet Gajbhiye},
        title = {A Study on Behavioral Finance and Investment Decision Biases among Investors: A Case Study of ICICI Securities Limited, Nagpur .},
        journal = {International Journal of Innovative Research in Technology},
        year = {2026},
        volume = {12},
        number = {11},
        pages = {14428-14434},
        issn = {2349-6002},
        url = {https://ijirt.org/article?manuscript=199088},
        abstract = {Behavioral finance has become a paradigm shift in the current financial theory that opposes the old notion of investor rationality. It combines psychology and financial decision-making to understand why investors do not always make the best decisions regarding their investments. This paper looks into how behavioral biases can influence investment decisions made by investors working in the ICICI Securities Limited, Nagpur. The study aims at learning how cognitive and emotional biases like overconfidence, loss aversion, herd mentality, anchoring effect and confirmation bias affect the financial judgement and market involvement. Contrary to conventional theories of finance, which predict that investors are rational actors with the aim of maximizing utility, behavioral finance holds that investors are prone to structural cognitive biases which distort perception and decision-making. Such biases tend to cause poor investment decisions, over trading, irrational risk evaluation, and inadequate portfolio diversification. The paper reiterates that the behavior of investment is not solely informed by the financial information at hand but is largely affected by the psychological framing, emotions, and social interactions. The results of this theoretical study indicate that, under the ICICI Securities Limited, Nagpur, the investors have different levels of behavioral biases and this directly influences their performance in investments and their ability to take risks. The article concludes that cognitive errors and behavioral awareness can be mitigated by increasing financial literacy and awareness so that investors can make rational decisions in financial markets.},
        keywords = {Investment Decision-Making, Cognitive Biases, Behavioral Finance, Overconfidence, Loss Aversion, Herd Behavior, Anchoring Effect, Nagpur, Investor Behavior, ICICI Securities Nagpur, Financial Psychology.},
        month = {April},
        }