摘要：Investors are always assumed to be a rational creature. Prior to invest their hard earned money, investors analyze the market plausibly by usingvarious approaches like technical, fundamental, Capital Asset Pricing Model (CAPM), Arbitrage Pricing Theory (APT) etc. Nevertheless, some investor wins the game, while others loose it. This volatile behavior of markets has challenged the hypothesis of efficient markets which motivates us to understand the drivingforces behind it. It is the major concern for academicians, investors and portfolio managers to understand the reasons causing irrationality in the markets.Academicians brought out few behavioralbiases into existence which are required to be studied. The present paper is an attempt to have an insight about key factors influencing the behavior of retail investors with respect to demographics in relation to their investment and their decision making process.
