Investors' Overconfidence Bias Leads to Risky Investment Decisions and Losses.
Investors in Lucknow tend to be overconfident in their investment decisions, believing they have better skills and knowledge than they actually do. This overconfidence can impact their choices in the stock market. The study used a questionnaire to identify different factors contributing to this overconfidence, such as optimism and illusion of control. The results showed that investors are indeed overconfident about their abilities to choose stocks, control their portfolio, and make future investment plans. This overconfidence bias can affect their investment decisions and require a more comprehensive approach to address.