African Behavioral Economics (Economics/Psychology crossover) | 09 May 2001
Behavioural Economics in Kenya: Insights for Consumer Protection Strategies
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Abstract
Behavioural Economics (BE) is an interdisciplinary field that combines insights from psychology and economics to understand how individuals make decisions in various contexts. This commentary synthesizes existing literature and theoretical frameworks from BE without empirical data collection or analysis. Understanding these behavioural biases is crucial for developing effective consumer protection policies and interventions. Recommend the implementation of tailored educational campaigns and product design changes that align with consumer behaviour patterns identified in BE.