African Sports Management Studies (Social/Business/Management) | 25 February 2007
Behavioural Economics in Consumer Protection: Insights from African Markets in Mauritius
S, h, a, r, a, n, r, a, o, B, h, e, e, m, b, e, ,, S, u, v, i, r, a, D, e, v, i, G, h, a, i
Abstract
Behavioural economics explores how individuals make decisions in markets. In African countries like Mauritius, consumer protection is often challenged by economic irrationality and market manipulation. A mixed-methods approach combining surveys and interviews to gather insights from consumers and market practitioners. Data were analysed using qualitative content analysis and statistical tests. Consumers frequently exhibit loss aversion, leading them to prefer avoiding losses over acquiring gains. This tendency is particularly pronounced among lower-income groups (45% of respondents). The research highlights the importance of understanding consumer psychology in designing effective consumer protection policies that address irrational behaviors. Policy makers should integrate behavioural economics into their regulatory frameworks to better protect consumers from unfair practices and market manipulation.