THE INTERACTION BETWEEN COGNITIVE BIASES AND THE CULTURAL DIMENSIONS OF THE COUNTRY IN INDIVIDUAL INVESTMENT DECISIONS

Authors : Nurgün Komşuoğlu Yilmaz

Pages : 828-839

Doi:10.29106/fesa.1343379

View : 116 | Download : 127

Publication Date : 2023-10-09

Article Type : Research Paper

Abstract :There are many physical, psychological, and social factors that have an impact on the decision-making process. Subjective cognitive factors that affect this process are called cognitive biases. Cognitive biases can impede people from making the right decisions by affecting their objective behavior in decision-making. This situation comes to the fore, especially in financial investment decisions and investors move away from making optimal decisions due to various cognitive biases. Culture has a significant impact on the way of life and thinking of people living in a country. The cultural characteristics of the country may have an impact on the prominence of different cognitive biases. In this study, the relationship between cultural dimensions and cognitive biases was examined in terms of individual financial investments in Türkiye.
Keywords : Bilişsel Önyargı, Bireysel Yatırım Kararları, Kültür