Effect of Cognitive Biases on Investment Decision Making: A Case of Pokhara Valley, Nepal

Background: Behavioral finance deals with the study of psychological influences on investors and financial markets. Investors commonly perform investment analysis through fundamental technical analysis. The behavior market originates from principles decision-making that explains reasons behind buying selling stocks. 
 Objectives: This paper aims to examine effect cognitive biases decisions in Pokhara Valley, Nepal. five biases, such as availability, anchoring, overconfidence, herd instinct, regret aversion, is measured rational decision-making. Methods: based primary data sources using non-probability (convenience method) sampling techniques. There are seven brokerage houses valley, researchers selected 179 respondents involved stock investment. Both descriptive inferential analyses were made analyze data. Results: discovers a link between irrationality instinct but anchoring aversion had no irrational decisions. However, though all have positive relationship an decision, overconfidence bias has highest impact. Regret least impact comparison other four biases. Conclusion: policymakers should focus finding various de-biasing methods eradicate those throughout findings this number implications for investors, brokers, governments who aim stimulate