An Examination of Individual Investors' Investment Decisions from a Behavioral Finance Perspective

This study examines the investment decisions of 542 individual investors in Türkiye’s Southeastern Anatolia Region (Diyarbakır, Bingöl, Mardin) from a behavioral finance perspective. Data were collected through face-to-face interviews using a structured questionnaire, tailored to the region’s low literacy and limited digital access. The relationships between demographic factors (gender, marital status, age, occupation, income, education) and behavioral finance tendencies were analyzed using t-tests and ANOVA. No significant relationships were found for gender, marital status, age, occupation, or income, but education level significantly influenced behavioral finance tendencies (p=0.010), with high school graduates showing lower cognitive biases (e.g., overconfidence, loss aversion) than primary school graduates. Investors exhibited a conservative approach, favoring traditional instruments like gold (32.3%) and real estate (24.4%), reflecting cultural influences and risk aversion. These findings highlight education’s critical role in enhancing financial literacy and reducing biases in socio-economically disadvantaged regions, informing targeted financial education programs.