High earners in Indian stock market prone to costly overconfidence mistakes.
The researchers looked at what makes people overconfident in the Indian stock market. They used a survey with questions to figure out why some investors are more overconfident than others. They found that people who earn more money, have more dependents, invest more often, have less time to invest, and invest in big companies are more likely to be overconfident. Gender, age, and education level don't seem to affect overconfidence. This information can help investors, advisors, and regulators make better decisions in the stock market.