Overall, 72 subjects invest their endowment in four risky assets. Each com-bination of assets yields the same expected return and variance of returns. Illusion of expertise prevails when one prefers nevertheless the self-selected portfolio. After being randomly assigned to groups of four...

This paper aims to analyse the influence of overconfidence bias and herding bias on investment decision making and the moderating role of financial literacy and risk attitudes on overconfidence bias and herding bias on investment decision making in the Colombo Stock Market. Data was collected...