Abstract

This study examined the relationship behavioral biases, namely overconfidence bias and hindsight bias, and investing decisions in the Nigerian Exchange Group. The population of study Nigeria, while investors in Edo state were chosen as the sample size, quantitative research design were used, while for the sampling technique that was used is the stratified random sampling technique. The study employs a sample size of 317 questionnaires that were completely filled out and returned .The data is evaluated using multiple regression analysis. The findings indicate a significant impact between overconfidence biases and decision-making. This suggests that having a higher level of overconfidence bias is linked to making improved investment decisions. The relationship between decision-making and hindsight bias is shown to be small and rarely significant. The control factors, including market experience, risk tolerance, and demographic issues, exert varying degrees of relationship on decision-making processes. These findings contribute to the existing information by providing insights into the Nigerian Exchange Group. The study's findings indicate that overconfidence bias has a greater relationship on investing decision-making in the Nigerian Exchange Group compared to hindsight bias. Thus, in summary, this study enhances our comprehension of cognitive biases within the Nigerian investment landscape and provides valuable insights that might improve investment decisions and practices inside the Nigerian Exchange Group.