Developing a Model of Behavioral Biases of Sport Investors in Kermanshah Province

The purpose of this study is to provide a model of behavioral biases of sports investors in Kermanshah province. The statistical population of this study included experts in sport management, economics and marketing specialists, private sector investors, club managers and sports boards. Sampling was done as a available sampling. The size of the population was unlimited, and 160 individuals formed the statistical sample of the research. The research instrument was a researcher-made questionnaire designed by investors' behavioral biases.The validity of the questionnaire was confirmed by sports and economics experts. The reliability of the questionnaire was 0.81 in a preliminary test. For analyzing the data, descriptive and inferential statistical methods including K_S, confirmatory factor analysis and path analysis using two SPSS.V. 22 and Smart PLS. V. 3 software were applied. Finally, the models were tested by structural equation modeling techniques to determine the impact and relevance of each factors. The findings of the research indicated that the data of this research are fitted with the structure of the research and theoretical basis of the research in the developed models. The prioritization of factors was based on the ability to explain the variable of behavioral biases of investors as follow: economic biases 0.78, cognitive biases 0.74, revelation biases of 0.49, preferential bias 0.48, emotional biases 0.31. Prioritizing economic issues announced the high impact of economic benefits on decision-making and targeting of investors to enter the field of sports.