• Fayaz Ahmad Dar
• Prof. Iqbal AhmAd Hakim

The present study is aimed to determining the influence of sociodemographic variables such as age and income on the psychological factors that shape the investment behaviour of an investor. The study has considered three psychological factors that determine the investment behaviour of an investor such as heuristic, prospects and herding variables. The study has adopted survey by questionnaire method for data collection from a sample of 430 investors. The sample was drawn through a proportionate random sampling method. Findings of the study depict that age and monthly income have a positive impact on the heuristic, prospect and herding variables of psychological dimensions. The findings of the study will be helpful to the investment managers and policy makers to educate their clients to make them a successful investor. Besides, fund managers can use this study to design an appropriate product for their clients to maximize their investment return by minimizing the risk. The study has a unique contribution to the literature by empirically analyzing the degree of association between the different psychological variables (heuristics, prospect, and herding) and demographic variables (age and income).

Age, income, heuristics, prospect, herding, psychological variables

"Understanding the influence of Age and Income on Psychological Factors in Investment Decisions", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.5, Issue 7, page no.799-812, July-2018, Available :http://www.jetir.org/papers/JETIR1807578.pdf

"Understanding the influence of Age and Income on Psychological Factors in Investment Decisions", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.5, Issue 7, page no. pp799-812, July-2018, Available at : http://www.jetir.org/papers/JETIR1807578.pdf