Abstract In recent years, Chinese college students have shown increased awareness of the importance of physical exercise. However, challenges such as insufficient health literacy, declining physical fitness, and low participation rates in physical activity still persist. To address these issues, the study applies behavioral economics theory and incorporates concepts such as anchoring effects, intertemporal decision making, loss aversion, and herd behavior, to examine the irrational factors and decision making preferences underlying college students physical exercise behaviors. By analyzing the cognitive biases in their decision making processes, the research aims to propose targeted and scientifically validated intervention strategies, so as to provide references for improving college students engagement in physical exercise and promoting their overall well being.