https://mail.insyma.org/proceedings/files/original/articles/Imawati Yousida.pdf Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource Proceedings of the International Symposium on Management (INSYMA) (Vol 22, 2025) Proceedings meta_title How Cognitive Biases Drive Investment Behavior: Analyzing Indonesian Investors' Financial Choice Author #1 Imawati Yousida Author #2 Rumaizah Author #3 Dwi Rochmawati Abstract/Description This research investigates the impact of three cognitive biases—disposition bias, representativeness bias, and anchoring bias—on investment decision-making, specifically in the context of Indonesian investors. These biases are examined as key psychological factors that influence how investors make financial choices and how these decisions shape their investment behavior. The study also considers the role of these biases in influencing investment outcomes, providing insights into how cognitive factors affect the financial decision-making process. The target population consists of Indonesian investors aged between 18 and 60, all of whom have prior experience in capital market investments. The respondents are selected to ensure diversity, with a focus on gaining insights from both male and female participants. The research uses a sample of 105 respondents, with data analysis conducted through SPSS 20.0 to evaluate three hypotheses related to the influence of disposition, representativeness, and anchoring biases on investment decisions. The t-test results indicate that all three biases have a statistically significant impact on investment decision-making, confirming that these psychological factors play a crucial role in shaping financial choices. With t-values showing significance for each bias, the findings suggest that these biases significantly influence how individuals approach their investment decisions. The study’s conclusions offer valuable insights for financial institutions to better understand the cognitive drivers behind investment behavior and provide actionable recommendations to mitigate the effects of these biases in investment decision-making. keywords a;b;c;d Investment Decision-Making, Disposition Bias, Representativeness Bias, Anchoring Bias, Indonesian Investors. publication_date 2025/06/20 2025/06/20 pdf_url https://insyma.org/proceedings/files/articles/Imawati Yousida.pdf abstract_html_url https://insyma.org/proceedings/items/show/ https://insyma.org/proceedings/items/show/495 firstpage 1134 lastpage 1138 issn 3047-857X 3047-857X conference Proceedings of the International Symposium on Management (INSYMA) Proceedings of the International Symposium on Management (Volume 21, 2024) publisher_name Fakultas Bisnis dan Ekonomika, Universitas Surabaya Fakultas Bisnis dan Ekonomika, Universitas Surabaya no article 183 Volume 22 authors Imawati Yousida, Rumaizah, Dwi Rochmawati Dublin Core The Dublin Core metadata element set is common to all Omeka records, including items, files, and collections. For more information see, http://dublincore.org/documents/dces/. Title A name given to the resource How Cognitive Biases Drive Investment Behavior: Analyzing Indonesian Investors' Financial Choice Creator An entity primarily responsible for making the resource Imawati Yousida, Rumaizah, Dwi Rochmawati