Exploresearch (ISSN: 3048-815X) ( Vol. 03 | No. 2 | April - June, 2026 )

A Prisma Review of Loss Aversion, Overconfidence, Herd, Confirmation, Anchoring, Availability, Mental and Regret Bias on Investors Decision Making: A Vos-Viewer Analysis

Author: Prasenjit Roy & Prof. S. K. Singh

Purpose: This study aims to present an all-inclusive knowledge mapping and depth analysis of behavioral bias effects on investment decisions to recognize the global trends and flows in this field that appeared in between JAN 2002 to APR2024. Design/Methodology/Approach: This study analyzed 55 documents listed in the International Scopus Database related to Behavioral Biases and Investment Decision-Making. The knowledge mapping by utilizing VOSviewer shows the analyzed results, which come from Co-occurrence analysis, Co-citation analysis, Citation Analysis, Keyword analysis, and Bibliometric Coupling analysis. Findings: The analysis found that (i)Overconfidence Bias and Herding Bias are the two topmost studied biases among the researchers, (ii)Before screening the article, USA and UK found out as the top countries contributed in the field, however after screening process, Pakistan and India identified as the top countries that contributed heavily in this field. (iii) the upward trend was noticed after 2015-16 in this field of study through overlay visualization. (iv) Kahneman David, Tversky Amos, and Odean Terrence are the most renounced authors found. (v)Nine out of Ten most renounced authors come from the USA. Not surprisingly, behavioral Bias is a crucial topic in investment decision-making and cannot be denied. However, Loss aversion Bias, Mentality Bias, Regret Bias, and Anchoring Bias require more attention in future research. Originality/Value: the present work is unique in its way of contribution, and to the best of the researchers’ knowledge this study will be as a guide to the future study of behavioral biases effect in investment decision-making subjective field.

Roy, P. & Singh, S. (2026). A Prisma Review of Loss Aversion, Overconfidence, Herd, Confirmation, Anchoring, Availability, Mental and Regret Bias on Investors Decision Making: A Vos-Viewer Analysis. Exploresearch, 03(01), 61–78. https://doi.org/10.62823/ExRe/2026/03/02.219

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DOI:

Article DOI: 10.62823/ExRe/2026/03/02.219

DOI URL: https://doi.org/10.62823/ExRe/2026/03/02.219

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