Answers are grounded in this paper and cite their sources.
The development of cryptocurrency in Indonesia has shown rapid growth in recent years. Along with this trend, investor behavior is often influenced by cognitive shortcuts known as heuristics. This study aims to examine the influence of heuristic biases including representativeness, overconfidence, anchoring, availability bias, and the gambler’s fallacy on retail investment decisions in the Bandung Raya area. Using a quantitative approach with a survey method, data were collected from 139 respondents and analyzed using statistical techniques, including correlation tests and simple linear regression. The results indicate that heuristic biases significantly influence investment decisions, highlighting the importance of increasing investor awareness of psychological factors that may disrupt rational judgment in making investment decisions in the cryptocurrency market.
No takes yet. Share an insight, caveat, or question.
Mulyadi et al. (2025) studied this question.
Synapse has enriched 10 related papers. Consider them for comparative context: