Jurnal Ilmiah Ekonomi dan Manajemen Indonesia
Vol. 2 No. 1 (2026): JANUARI -JUNI

Influence of Cognitive Biases on Financial Decision-Making: A Bibliometric Analysis

Ananda Amalia Munaz (Mulawarman University)
Ardhelia Rayshinta Ratudyana (Mulawarman University)
Chindy Luisa Charlita Permata Jaya (Mulawarman University)
Khairunnisa Zahra Nabilah (Mulawarman University)
Ridha Alya Nur Hidayah (Mulawarman University)
Margareth Henrika (Mulawarman University)
Muhammad Ramadhani Kesuma (Mulawarman University)



Article Info

Publish Date
21 Jun 2026

Abstract

This study maps the intellectual structure and thematic evolution of research on cognitive biases in financial decision-making using a bibliometric approach. Data comprising 156 peer-reviewed articles were extracted from the Scopus database and analyzed using VOSviewer software to examine co-authorship networks, keyword co-occurrence, and citation patterns. Publications in this field experienced exponential growth, with 63.5% of the corpus concentrated in 2023-2026. India has emerged as the leading contributor by volume, reflecting a broader Global South turn in behavioral finance research. Overconfidence and behavioral finance dominate the keyword landscape, while financial literacy has emerged as a prominent moderating theme. Co-authorship networks remain fragmented, indicating opportunities for cross-institutional collaboration. Emerging frontier themes include technology-based debiasing, algorithmic bias, and ESG investment bias. Practitioners and policymakers can leverage the knowledge map produced by this study to identify high-impact research domains, prioritize financial literacy interventions, and design nudge-based decision environments that mitigate systematic biases in financial markets. This study provides the first comprehensive bibliometric map of cognitive bias research in financial decision-making covering 1997-2026, identifying collaboration gaps, dominant paradigms, and frontier themes that prior narrative reviews have not systematically captured.  

Copyrights © 2026






Journal Info

Abbrev

jiemi

Publisher

Subject

Economics, Econometrics & Finance

Description

Jurnal Ilmiah Ekonomi dan Manajemen Indonesia is a double-blind peer review and an open-access online journal for academics and researchers published by Universitas Serambi Mekkah Banda Aceh collaboration with INDO PUBLISHING. This journal is accepts the manuscript written in Indonesia and English ...