Research patterns and intellectual structure of heuristic bias: a bibliometric overview using SPAR-4-SLR approach

Purpose This study aims to explore the current framework and development in academic research on heuristic bias in the behavioural finance domain. Design/methodology/approach To review the literature on heuristic bias, this study performed a bibliometric analysis of 178 articles published between 1980 and 2023. The present study has applied Scientific Procedures and Rationales for Systematic Literature Review protocol. Findings Overall, this study emphasises that developed countries have conducted groundbreaking research in this field. Additionally, it suggests that the emerging topics for future research are “Prospect theory” and “Neural Networks”. Research limitations/implications This study exclusively relies on Scopus for data collection and used VOSviewer and Biblioshiny software only. Practical implications This study would support scholars and researchers of related domains by identifying specific areas to focus upon and explore further. This study shall reiterate and sensitise the investors, a major section of the society, about the behavioural biases that they suffer from while making investment decisions. Originality/value The current study is the first of its kind, focusing on the comprehensive analysis of the global trends of the existing literature on heuristic bias and its implications through the bibliometric analysis, covering the whole period of Scopus database from 1980 to December 2023.