PurposeThis study systematically explores the patterns and connections in the behavioural bias and investment decisions of the existing literature in the Scopus database published between 2007 and 2022. The purpose of this paper is to address this issue.FindingsIn the article it was determined which contributed documents were the most significant in this particular subject area along with the citations, publications and nations that were associated with them. The bibliographic coupling offered more in-depth insights into the papers by organizing them into distinct groups. The pattern of the publications has been brought to light, and the connection between different types of literature has provided insight into the path that future studies should take.Research limitations/implicationsThis study considered only articles from the Scopus database. Future studies can be based on papers that have been published in other databases.Originality/valueThe outcome of this study provides valuable insights into the intellectual structure and biases of investors and adds value to existing knowledge. This review provides a road map for the future trend of research on behavioural bias and investment decisions.

Purpose Current research in the field of behavioural finance has attempted to discover behavioural biases and their characteristics in individual investors’ irrational decision-making. This study aims to find out how biases in information based on knowledge affect decisions about investments. Design/methodology/approach In step one, through existing research and consultation with specialists, 13 relevant items covering major aspects of bias were determined. In the second step, multiple linear regression and artificial neural network were used to analyse the data of 337 retail investors. Findings The investment choice was heavily impacted by regret aversion, followed by loss aversion, overconfidence and the Barnum effect. It was observed that the Barnum effect has a statistically significant negative link with investing choices. The research also found that investors’ fear of making mistakes and their tendency to be too sure of themselves were the most significant factors in their decisions about where to put their money. Practical implications This research contributes to the expansion of the knowledge base in behavioural finance theory by highlighting the significance of cognitive psychological traits in how leading investors end up making irrational decisions. Portfolio managers, financial institutions and investors in developing markets may all significantly benefit from the information offered. Originality/value This research is a one-of-a-kind study, as it analyses the emotional biases along with the cognitive biases of investor decision-making. Investor decisions generally consider the shadowy side of knowledge management.