Financial decisions are the most important and life-shaping decisions individual make in their life. The increasing body of literature evidences the role of the individual psychological influence in their financial decisions. More specifically, the role of mental accounting is established in the...

Given the increasing relevance of Behavioral Economics in understanding decisions, this paper has analyzed the role of Mental Accounting (MA) in influencing Personal Financial Planning (PFP) decisions of Indian Households. Using the components put forth by the behavioral life cycle theory, MA...

Studies noticed that individuals' cognitive, psychological, and behavioral limitations always have some influence in their everyday decision making. And the financial decisions are no exceptions. Perhaps it can be affirmed that individual financial decisions do have cognitive influence. This is...