Financial decisions of individuals in the framework of behavioral finance

In recent years, it has been observed that people are more dependent on the environment, behave behaviorally and move further away from rationality in investment and trading in behavioral terms. With the explanation of other disciplines (psychology, sociology, anthropology, geography) related to behavioral finance, it has been undeniably revealed that the behavioral approach is directly or indirectly related to these disciplines at its origin. In investment decision, real or legal persons may sometimes be unaware of the psychological state that are in or may be more prone to environmental factors than they think. These trends are diversifies on effects such as (herding behavior, framing bias, pride and regret, risk aversion, sun shine, easy money, overconfident bias, mental accounting, familiarity, conservatism bias, anchoring bias.) In this study, the effect and consequences of behavioral tendencies and closely related groups on individuals in their financial decision are indicated. A comprehensive literature review has been conducted and the results have been examined with questionnaires and graphic analyzes.