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This is a Quantitative Study study.

The Role of Financial Literacy and Demographic Variables in Influencing Behavioral Biases

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Financial literacy significantly reduces behavioral biases in investors, improving decision-making in markets.
The study found that demographic factors do not significantly influence most behavioral biases in investment.
Data was collected from 152 respondents using a structured questionnaire and purposive sampling method.
Findings support the importance of enhancing financial literacy to mitigate biases in capital market investment.

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Quantitative analysis shows financial literacy significantly decreases behavioral biases in investors, while demographic factors have limited impact.

Putranda et al. (2025) studied this question.

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Quantitative analysis shows financial literacy significantly decreases behavioral biases in investors, while demographic factors have limited impact.