Vol. 2010 No. 1 (2010)

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Behavioural Economics in Benin's Consumer Markets: A Mixed Methods Inquiry

Agbakoba Oluwatoyinso, Department of Interdisciplinary Studies, National University of Agriculture (UNA) Idahor Adebisi, Department of Research, African School of Economics (ASE) Chinomvosio Awoniyi, Department of Research, University of Parakou Akpan Uzochukwu, University of Abomey-Calavi
DOI: 10.5281/zenodo.18915715
Published: December 8, 2010

Abstract

Behavioural economics has gained prominence in understanding consumer behaviour across different market contexts, including those in Africa where traditional economic models often fail to capture nuances of human decision-making. The research employs a mixed methods approach, combining quantitative surveys with qualitative interviews to gather data from consumers and market practitioners. Data analysis involves statistical tests for survey results and thematic coding for interview transcripts. Analysis revealed significant instances of overconfidence bias among consumers when making purchase decisions, leading to higher expenditure on luxury goods compared to their actual financial capacity. The findings underscore the need for tailored education programmes that address specific cognitive biases prevalent in Benin's consumer market. These insights can inform more effective policies aimed at promoting fair and transparent commerce. Recommendation 1: Develop targeted behavioural interventions specifically addressing overconfidence bias to prevent financial distress among consumers. Recommendation 2: Incorporate these findings into ongoing consumer protection reform efforts. Behavioural Economics, Consumer Protection, Benin Markets, Mixed Methods Study

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How to Cite

Agbakoba Oluwatoyinso, Idahor Adebisi, Chinomvosio Awoniyi, Akpan Uzochukwu (2010). Behavioural Economics in Benin's Consumer Markets: A Mixed Methods Inquiry. African Auditing and Assurance, Vol. 2010 No. 1 (2010). https://doi.org/10.5281/zenodo.18915715

Keywords

African marketsBehavioural economicsConsumer behaviourMixed methodsQualitative researchQuantitative researchSocial psychology

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Vol. 2010 No. 1 (2010)
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African Auditing and Assurance

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