Article Details
  • Published Online:
    July  2025
  • Product Name:
    The IUP Journal of Applied Finance
  • Product Type:
    Article
  • Product Code:
    IJAF040725
  • DOI:
    10.71329/IUPJAF/2025.31.3.71-93
  • Author Name:
    Tanaya Das and Sulagna Das
  • Availability:
    YES
  • Subject/Domain:
    Finance
  • Download Format:
    PDF
  • Pages:
    71-93
Volume 31, Issue 3, July-September 2025
Green Investment Choices and Hidden Behavioral Biases in West Bengal: A District-Level Systematic Review of Sustainable Investment Behavior
Abstract

This study focuses on green investment choices and hidden behavioral biases and how they shape sustainable investing behavior at the district level in West Bengal, constrained by unique socioeconomic and environmental challenges. The interrelationship between behavioral finance and sustainable investing has gained some positive and significant attention over the years. Based on a systematic literature review, 96 papers were selected and examined using PRISMA software and applying different inclusion and exclusion criteria. It was found that investors with higher levels of education exhibited overconfidence in predicting returns on green investments. Hence, addressing these biases through targeted intervention can easily strengthen the participation of investors in sustainable investments.

Introduction

Over the years, sustainable investing has emerged as a pivotal strategy in addressing environmental and social challenges across the globe.