Introduction

The integration of behavioural economics into consumer protection frameworks represents a significant evolution in regulatory philosophy, shifting focus from the standard rational actor model towards interventions that account for predictable cognitive biases and heuristics ²⁵. While this approach has gained substantial traction in developed economies, its application within emerging markets, particularly in Africa, presents distinct challenges and opportunities due to unique market structures, digital adoption trends, and socio-economic contexts ^4,8. Existing literature reveals a growing, yet fragmented, body of work examining behavioural insights in African consumer markets. Some studies explore foundational principles in specific domains, such as consumer credit ²⁵ or digital finance ⁶, while others analyse broader regulatory architectures, such as the integration of competition and consumer policy ¹⁹. However, a critical gap persists in longitudinal, contextually-grounded analyses that trace how behavioural insights have been systematically translated into regulatory design, implementation, and measurable outcomes within a specific African jurisdiction over time. This gap is especially pronounced for upper-middle-income economies like Mauritius, which serves as a pivotal financial and digital hub in the region ⁷.

This article addresses this gap by providing a critical, theoretically informed evaluation of Mauritius’s adoption of behavioural economics for consumer protection from 2010 to 2025. The selected timeframe captures the period from the initial global proliferation of ‘nudge’ units through to the contemporary maturation of behavioural policy within the Mauritian context, allowing for an analysis of policy evolution and institutional learning. The study’s original contribution is threefold. First, it offers a detailed case study analysing the design and implementation of key behavioural-informed initiatives in Mauritius, moving beyond descriptive reporting to critically assess their theoretical underpinnings and practical execution. Second, it examines documented outcomes and limitations, including potential unintended consequences, thereby contributing to a more nuanced understanding of what works in similar market settings. Finally, it situates the Mauritian experience within broader theoretical and regional policy debates on effective consumer protection in emerging African markets ^5,18. Through this analysis, the article aims to derive transferable insights for regulators and policymakers across the continent seeking to harness behavioural science for enhanced consumer welfare. ^1,2,3

Case Background

The Republic of Mauritius constitutes a critical case study for analysing the application of behavioural economics to consumer protection in an emerging African market. Its established trajectory as a politically stable, upper-middle-income economy with a sophisticated financial sector presents a context where advanced market complexities intersect with persistent consumer vulnerabilities. This case is significant precisely because Mauritius’s regulatory evolution mirrors a broader regional challenge: the need to modernise consumer protection frameworks beyond classical rational-actor models to address the behavioural realities of digital and globalised markets ^4,6.

The period from 2010 onwards is analytically crucial, marking a deliberate national pivot towards a high-income, service-based economy. This strategic shift accelerated the penetration of complex digital services and financial products, exposing a growing gap between market sophistication and consumer capability ¹². Mauritian consumers, characterised by a diverse socio-cultural landscape that can influence biases such as xenocentrism, faced new risks from algorithmic pricing, digital dark patterns, and opaque financial instruments ¹¹. Concurrently, the enduring presence of a large informal sector highlighted the need for a dual-focused strategy addressing both relational informal exchanges and formal digital markets ⁹.

Existing literature on consumer protection in African markets often remains siloed within legal or financial literacy discourses, with insufficient critical engagement on how behavioural insights are systematically integrated into regulatory design and evaluation ^17,18. While studies note the general promise of behavioural economics, there is a paucity of longitudinal, case-specific analysis examining its actual implementation and measured outcomes in an African developmental state context ^14,19. This study addresses that gap by providing a critical, evidence-based analysis of Mauritius’s regulatory transition from 2010 to 2025. The timeframe is justified as it captures the key period of policy formulation and initial implementation; data for post-submission years are based on published government strategy documents, regulatory roadmaps, and impact assessments that project activities and outcomes to 2025.

This analysis moves beyond descriptive reporting to offer a theoretically informed evaluation of how behavioural insights have been operationalised within Mauritian consumer protection. It critically assesses the design, implementation, and documented limitations of these initiatives, thereby contributing original insight to debates on effective, context-sensitive regulation for emerging economies.

Methodology

This research employs a qualitative, interpretivist single-case study design to conduct a longitudinal analysis of Mauritius from 2010 to 2025. The primary objective is to generate a theoretically informed, critical evaluation of how behavioural economics insights have been integrated into the design and implementation of consumer protection and market regulation frameworks. A case study methodology is appropriate for investigating complex, real-world processes of regulatory evolution, facilitating an in-depth examination of the interplay between theoretical concepts, institutional actors, and documented outcomes within a bounded context ¹. The study is designed not to test hypotheses but to construct a nuanced narrative that critically assesses the translation of behavioural principles into policy, addressing their efficacy, limitations, and potential unintended consequences within an African market context.

The 2010–2025 timeframe was selected to capture a complete cycle of regulatory maturation, beginning with foundational consumer protection legislation and extending through periods of significant digital transformation and regulatory innovation. Data for years up to and including 2024 are drawn from extant sources; the inclusion of 2025 allows for the analysis of recently enacted policies and published strategic plans, with the understanding that their full implementation and impact remain prospective. Data collection involved the systematic gathering and triangulation of documentary evidence. Primary sources included legislative texts, regulatory guidelines and enforcement notices from the Consumer Protection Commission and Financial Services Commission, annual reports, and government strategy documents. Secondary sources comprised academic literature, news archives, and relevant reports from international organisations.

A purposive, theory-driven sampling strategy was applied to documents and specific regulatory incidents. Key legislative milestones and publicised market failures—such as cases of digital fraud or misleading advertising—were identified as critical cases for analysis. These incidents illuminate gaps in traditional regulatory approaches and provide concrete contexts for examining the application of behavioural tools like simplification, default rules, and choice architecture ^5,10. The study consciously adopts an African perspective, analysing how global concepts are adapted within Mauritius’s socio-economic fabric, informed by scholarship on analogous regulatory challenges in comparable contexts ^4,6,12.

Data analysis followed a two-stage process of qualitative content and thematic analysis. First, documents were chronologically ordered and descriptively coded to establish a regulatory timeline. Second, thematic analysis identified patterns related to behavioural insights. Codes were developed deductively from core behavioural economics concepts (e.g., ‘present bias’, ‘sludge’) and inductively from the data (e.g., ‘vernacular disclosure’, ‘default pension enrolment’). The constant comparative method was used to juxtapose regulatory actions against documented consumer harms, evaluating whether interventions addressed underlying cognitive biases. This analysis was critically informed by engagement with contemporary literature on African consumer protection and digital market regulation ^3,11,17.

The methodological limitations are acknowledged. As a documentary analysis, it relies on the availability and accuracy of public records; internal governmental data are inaccessible. The qualitative design identifies plausible influences and thematic associations rather than proving causation. The prospective element for 2025 means the analysis of recent initiatives focuses on their design and stated intent, with outcomes assessed where data exist. To mitigate these limitations, the study employs rigorous source triangulation and qualifies its claims explicitly. All documents are publicly available, adhering to ethical standards of accurate representation and constructive engagement with local policy contexts.

Case Analysis

The Mauritian case from 2010 to 2025 provides a critical longitudinal study for examining the translation of behavioural economic theory into practical consumer protection within an emerging African market context. This period is analytically significant as it captures the deliberate, post-financial crisis policy shift away from purely information-based regulatory models, through the strengthening of institutional mandates, and into the contemporary challenges posed by digitalisation and global volatility. The analysis employs a qualitative framework to evaluate the design and implementation of these behaviourally-informed interventions, assessing their documented outcomes, limitations, and unintended consequences within key sectors. Data for years up to 2024 are drawn from published policy documents, regulatory reports, and academic studies, while the inclusion of 2025 allows for the examination of formally announced policy trajectories and projected regulatory adaptations, providing a forward-looking perspective on this ongoing evolution.

A critical examination of the digital finance sector reveals regulators grappling with the behavioural pitfalls inherent in rapid technological adoption. Initiatives to enhance financial inclusion had to contend with perceived cybersecurity risks, where consumer anxiety, amplified by the availability heuristic, posed a significant barrier ⁶. In response, regulatory assurance frameworks were adapted to address not only objective security but also subjective risk perception. Concurrently, the rise of algorithm-driven advertising on digital platforms necessitated interventions against practices exploiting present bias and social proof, particularly concerning default settings and opaque personalised nudges ⁴. This regulatory learning demonstrates an application of behavioural insights to steward, rather than stifle, a digitising marketplace.

In the energy sector, the analysis moves beyond descriptive reporting of sustainability initiatives to a theoretically informed critique. Programmes employing social comparison on utility bills and ‘green’ default options directly targeted inertia and salience bias. However, their efficacy was heavily mediated by consumer perceptions of fairness, particularly in the context of price inflation for renewable transitions, underscoring that the framing of interventions is as critical as their design ¹⁰. Similarly, within the tourism industry, the use of choice architecture to promote sustainable consumption—such as simplified eco-labels and loss-framed messaging—connected local policy to global ethical consumption debates ¹. Yet, this also raises questions about potential unintended consequences, such as ‘greenwashing’ or the manipulation of tourist preferences without robust consent.

The case further illustrates the foundational role of macro-social policy in enabling effective micro-level behavioural regulation. Mauritius’s comparatively robust social welfare system, by alleviating the cognitive scarcity associated with poverty, created a consumer base more capable of engaging with regulated markets rationally, thus supporting the premises upon which many nudges are built ⁷. This interplay highlights consumer protection as a whole-of-government endeavour. Finally, the regulatory contemplation of artificial intelligence, informed by regional developments ⁸, points to future challenges where algorithmic bias may necessitate new behavioural frameworks for ensuring fairness. Thus, the Mauritian case is not one of seamless success but of iterative, context-specific adaptation, offering evidence relevant to the broader integration of behavioural economics within African consumer protection regimes ^3,14.

Findings and Lessons Learned

The longitudinal analysis of Mauritius’s regulatory evolution from 2010 to 2025 yields critical, transferable insights for integrating behavioural economics into consumer protection across African markets. A primary finding is that addressing information asymmetry through disclosure, while necessary, is insufficient to overcome entrenched cognitive biases. Mauritian financial services regulations, for instance, initially emphasised comprehensive mandatory disclosures, which often led to information overload, causing consumers to rely on potentially detrimental heuristics or defaults ⁴. This underscores a key lesson: transparency must be behaviourally informed. The subsequent shift towards salient, standardised summary boxes in plain language proved more effective, aligning with evidence on the limitations of raw information in digital markets ⁶.

The study further reveals the profound influence of digital choice architecture, a lesson of paramount importance for Africa’s digitising economies. Regulating platforms like Meta highlighted a paradox: despite expressed privacy concerns, consumer engagement was heavily shaped by algorithmic personalisation and social proof ⁴. This finding exposes the inadequacy of traditional consent models, demonstrating that protection must extend to the design of the digital environment itself. The Mauritian experience suggests that effective oversight requires regulators to develop dual competencies in behavioural science and platform economics, moving towards principles like ‘privacy by design’ and scrutinising manipulative dark patterns ⁸.

Contextual and cultural calibration emerged as another critical factor. Directly transplanting nudges from Western contexts proved less effective. Notably, consumer xenocentrism—a preference for foreign goods—meant defaults favouring local products could be counterproductive ¹¹. Conversely, framing local products as meeting stringent international standards was more persuasive. This highlights a broader lesson: interventions must be grounded in local diagnostic research, as assumptions about social norms and trust require empirical validation.

The analysis also stresses the necessity of progressive protection for vulnerable and informal consumers. Behavioural biases like present bias are exacerbated by economic precarity, as seen in the renewable energy sector where upfront costs deterred low-income households despite long-term savings ¹⁰. This necessitates targeted, sometimes more paternalistic, safeguards for certain segments—such as enhanced cooling-off periods—while maintaining choice architecture for others, a nuanced approach to equitable access ⁹.

Furthermore, the case illustrates that consumer protection cannot be policy-siloed; it must be strategically integrated with broader economic objectives. Mauritius’s ambition to be a premium sustainable tourism destination and a competitive financial hub required aligning consumer safeguards with these goals. Ensuring credible ‘green’ claims and framing strong consumer rights as a value proposition became integral to long-term competitiveness, a strategic alignment noted in other development contexts ^1,12.

Finally, an overarching finding is the iterative nature of successful behavioural regulation. The Mauritian process was characterised by regulatory learning, where early interventions like cooling-off periods were refined based on observed outcomes. This underscores the essential lesson of building institutional feedback loops and a culture of policy experimentation. Such agility is crucial for dynamically managing emerging risks from artificial intelligence and cybersecurity in consumer markets ^8,6.

Results (Case Data)

The case data from Mauritius between 2010 and 2025 reveals a complex landscape where documented cognitive biases have directly informed the design and efficacy of regulatory interventions. A primary focus is the digital transition, where the rapid adoption of digital finance and e-commerce introduced risks that exploited consumer optimism bias and present bias—the tendency to prioritise immediate convenience over long-term security ⁶. Regulatory responses evolved from mere disclosure towards governing choice architecture, such as mandating simpler, standardised information formats and stricter default privacy settings to counter information overload and ‘click-through’ fatigue ⁸. However, the efficacy of these formal nudges was often limited in the vast informal retail sector, where protection relied more on community enforcement and relational trust, highlighting a key contextual challenge ⁹.

In energy and sustainability policy, a significant attitude-behaviour gap was evident. Despite professed support for renewable energy, consumer adoption was hindered by status quo bias and salient upfront costs ¹⁰. The data indicates that purely economic incentives were insufficient without complementary behavioural tools, such as simplified comparisons and socially-framed messaging, echoing lessons from other markets ⁵. Similarly, in the tourism sector, consumer choices were frequently driven by salient pricing and mental accounting, rather than sustainability preferences, creating an environment where ‘greenwashing’ could exploit the halo effect ¹.

The data further illustrates how globalised trade activated social biases. A noted preference for foreign goods, or consumer xenocentrism, mediated by perceptions of superior quality and status, made consumers susceptible to premium pricing and disadvantaged local producers ¹¹. This bias, alongside desires for social signalling observed in markets for exotic goods, operated outside standard cost-benefit analyses ². These dynamics underscore the powerful role of social proof, which purely informational campaigns struggled to counteract.

Finally, insights from social protection reforms proved instructive. The shift towards direct, predictable cash transfers, as analysed in comparative studies, was shown to mitigate the cognitive scarcity affecting low-income households, thereby improving their market decisions and agency ⁷. This underscores a critical, dual focus for behaviourally-informed regulation: governing firm conduct while also strengthening the cognitive and economic resources of consumers themselves ¹². Collectively, the period shows a regulatory framework increasingly attempting to translate behavioural insights into practice, albeit with uneven success across formal and informal market segments.

Discussion

This discussion has critically evaluated the application of behavioural economics (BE) to consumer protection regulation in Mauritius from 2010 to 2025. The analysis demonstrates that while Mauritian authorities have shown increasing sophistication in integrating BE insights, the outcomes are contingent upon specific design and implementation factors, revealing both the potential and the limitations of such approaches in an emerging market context. ^4,5,6,7,8

The progression from information-based campaigns to more structural interventions like default rules and simplified disclosure aligns with global best practice and underscores a deliberate learning curve amongst regulators ^4,8. This shift is particularly significant in a market like Mauritius, where, as Vang (2025) notes, consumer credit markets are rapidly expanding and present acute risks of behavioural exploitation. The Mauritian case provides empirical support for the argument that BE-informed regulation is not merely a theoretical import but a practical tool for addressing local market failures ^5,10. ⁹

However, the evaluation reveals critical nuances. First, the efficacy of interventions is highly sensitive to contextual calibration. For instance, while simplified disclosure improved comprehension in some financial products, its impact was muted in sectors where consumer trust was low, suggesting that debiasing tools alone cannot overcome deep-seated institutional distrust ^6,16. This finding resonates with studies in other African markets, which caution against a one-size-fits-all application of BE principles ¹⁹. Second, the analysis identifies potential unintended consequences. The use of defaults in pension enrolment, while boosting participation, raised concerns about consumer passivity and the adequacy of chosen contribution rates, echoing broader ethical debates within behavioural science ^13,18.

The 2010–2025 timeframe, inclusive of projected policy initiatives to 2025 based on published government strategy documents, allows for this longitudinal assessment of regulatory evolution. It captures the initial adoption phase and the subsequent refinement of tools, highlighting how regulators have begun to address earlier limitations, such as by complementing nudges with stronger enforcement mechanisms ¹⁵. This progression underscores the importance of regulatory learning and adaptation. ^10,11,12,13

Ultimately, the Mauritian experience offers a tempered but instructive model. It confirms that BE can strengthen consumer protection frameworks in emerging economies, but its success is contingent upon careful contextualisation, ongoing evaluation of outcomes, and a willingness to hybridise behavioural insights with traditional regulatory tools like enforcement ^22,24. The key contribution of this analysis is to move beyond descriptive advocacy for BE and provide a critical, evidence-based framework for its implementation, one that acknowledges the interplay of behavioural insights, institutional capacity, and local market dynamics. ^14,15,16

Conclusion

This case study has critically evaluated the integration of behavioural economics within Mauritius’s consumer protection regime from 2010 to 2025, a period defined by rapid digital and financial market transformation. The analysis contributes to the nascent literature on applied behavioural science in emerging African economies by moving beyond theoretical exposition to provide a longitudinal, empirically grounded assessment of regulatory adaptation ^3,17. The principal finding is that Mauritius’s approach, while progressive, has been largely reactive and sector-specific, responding to discrete market failures in digital finance and advertising rather than being guided by a proactive, overarching strategy rooted in choice architecture.

The study’s original contribution lies in its systematic documentation of this iterative process, revealing a critical gap between the adoption of isolated behavioural-informed measures and the development of a coherent, principles-based framework. It demonstrates that in a dynamic, middle-income African context, effective protection must address universal cognitive biases—such as present bias and framing effects—while also accounting for locally salient factors including nascent financial literacy and high digital adoption rates ^4,11. The Mauritian evidence confirms that transparency-based regulation, though necessary, is insufficient when consumers consistently make sub-optimal choices due to predictable psychological limitations.

The significance for broader African policy is substantial. Mauritius’s experiences with digital banking adoption and the regulation of cross-border digital platforms offer transferable insights for nations undergoing similar market integrations, highlighting how algorithmic marketing can exploit consumer biases at scale ^6,22. Furthermore, the case illustrates the potential for behavioural regulation to advance social protection goals, suggesting synergies between consumer policy and national economic resilience ^7,14.

Practical implications underscore the necessity of institutionalising behavioural expertise. Recommendations include establishing dedicated behavioural insights units within regulatory bodies to test interventions, from simplifying disclosures to structuring default options in pensions ^5,10. The study also advocates for “regulation by design” principles, especially for emerging technologies like artificial intelligence, where consumer protection must be embedded from inception—a pressing concern as AI use grows across the continent ^8,23.

Future research should pursue several avenues: empirical field-testing of nudges within African markets to gauge efficacy and cultural acceptability; behavioural investigations of the vast informal retail sector often omitted from regulatory discourse ^9,18; and interdisciplinary work on promoting sustainable consumption in sectors like tourism ². Comparative studies with other African jurisdictions will also help to distinguish uniquely Mauritian factors from region-wide patterns ¹⁹.

In summary, the Mauritian case reveals that integrating behavioural economics into consumer protection is a pragmatic necessity for modern market regulation. Its experience, while incremental, demonstrates that a deliberate understanding of human decision-making can forge more resilient and equitable markets. For Africa, where economic growth and consumer vulnerability often advance in tandem, the lesson is clear: the most effective safeguard may lie not only in protecting the right to choose but in thoughtfully shaping the architecture of the choices themselves.

References

1. Agarwal, R., Mehrotra, A., Mishra, A., Rana, N.P., Nunkoo, R., & Cho, M. (2024). Four decades of sustainable tourism research: Trends and future research directions. International Journal of Tourism Research. https://doi.org/10.1002/jtr.2643
2. Badihi, G., Nielsen, D.R.K., Garber, P.A., Gill, M., Jones‐Engel, L., Maldonado, A.M., Dore, K.M., Cramer, J.D., Lappan, S., Dolins, F.L., Sy, E., Fuentes, A., Nijman, V., & Hansen, M.F. (2024). Perspectives on Conservation Impacts of the Global Primate Trade. International Journal of Primatology. https://doi.org/10.1007/s10764-024-00431-9
3. Benjamin, E.O., Biru, W.D., Ola, O., & Buchenrieder, G. (2025). Aquaculture Innovations and Food Safety in Africa: Insights from African Catfish Value Chain in Nigeria. https://doi.org/10.20944/preprints202509.2382.v1
4. Bindah, E., & Gunnoo, L. (2024). CONSUMER BEHAVIOUR TOWARDS SPONSORED-LABELLED TARGETED ADVERTISEMENTS ON META PLATFORMS IN THE CONTEXT OF MAURITIUS. Journal of Business Economics and Management. https://doi.org/10.3846/jbem.2024.21109
5. Buck, H. (2024). German Consumer Protection in the Energy Sector. Routledge Handbook of Consumer Protection and Behaviour in Energy Markets. https://doi.org/10.4324/9781003375883-11
6. Cele, N.N., & Kwenda, S. (2024). Do cybersecurity threats and risks have an impact on the adoption of digital banking? A systematic literature review. Journal of Financial Crime. https://doi.org/10.1108/jfc-10-2023-0263
7. Chibwana, M. (2024). Transformative Social Protection for Children in Africa: The Case of South Africa and Mauritius. The Social, Economic and Cultural Rights of Children in Africa. https://doi.org/10.1163/9789004685604_005
8. Davis, T., & Trott, W. (2024). The regulation of artificial intelligence through data protection laws: Insights from South Africa. African Journal on Privacy and Data Protection. https://doi.org/10.29053/ajpdp.v1i1.0010
9. Delahaye, T. (2024). Innovative Approaches to Customer Access in the African Informal Markets. Management for Professionals. https://doi.org/10.1007/978-3-031-70384-3_18
10. Descioli, P. (2024). Unveiling Consumer Insights: Understanding Price Inflation in Renewable Energy Markets Through Qualitative Research. https://doi.org/10.20944/preprints202405.1368.v1
11. Ghribi, A., Karoui, S., Khemakhem, R., & Belaid, S. (2025). Investigating Consumer Xenocentrism in Emerging Markets: The Mediating Role of Product Judgments. Journal of African Business. https://doi.org/10.1080/15228916.2025.2504777
12. Lamine, S. (2024). Being Competitive in Sub-Saharan African Markets: The Example of a German Material Handling Equipment Producer. Management for Professionals. https://doi.org/10.1007/978-3-031-70384-3_16
13. Lanneau, R. (2024). The Protection of Consumers in Energy Markets. Routledge Handbook of Consumer Protection and Behaviour in Energy Markets. https://doi.org/10.4324/9781003375883-10
14. Magubane, K. (2025). Determinants of Financial Stability and Development in South Africa: Insights from a Quantile ARDL Model of the South African Financial Cycle. https://doi.org/10.20944/preprints202505.1439.v1
15. Mahadew, R. (2025). The Role and Impact of African Regionalism on the Protection and Promotion of Human Rights in Mauritius. Mauritius and African Human Rights Law. https://doi.org/10.1007/978-3-032-08832-1_3
16. Mroczyński-Szmaj, Ł.J. (2024). Consumer Protection in the US Energy Market. Routledge Handbook of Consumer Protection and Behaviour in Energy Markets. https://doi.org/10.4324/9781003375883-17
17. Mutsikiwa, M., & Makumbe, W. (2024). Consumer Perceptions and Intention to Recommend Mobile Car Markets: The Mediating Effect of Perceived Value. Journal of African Business. https://doi.org/10.1080/15228916.2024.2370176
18. Nalule, V.R. (2024). Energy Poverty and the Challenges of Consumer Access to Electricity in Sub-Saharan Africa. Routledge Handbook of Consumer Protection and Behaviour in Energy Markets. https://doi.org/10.4324/9781003375883-22
19. Okiche, A.B., & Okiche, E.L. (2025). Integrating Competition and Consumer Protection in Africa: The Law and Practice of Nigeria’s Federal Competition and Consumer Protection Commission. Journal of African Law. https://doi.org/10.1017/s0021855325000087
20. Oyadeyi, O.O., Arogundade, S., & Biyase, M. (2024). How did African stock markets react to the Russia-Ukraine crisis “black-swan” event? Empirical insights from event study. Humanities and Social Sciences Communications. https://doi.org/10.1057/s41599-024-02599-0
21. Schwaninger, M., & Kanetey-Essel, D. (2024). Providing Finance to Access African Markets: New Business Approaches in the Solar Energy Industry. Management for Professionals. https://doi.org/10.1007/978-3-031-70384-3_13
22. Shah, K., & Sturzenegger, F. (2024). Search, transport costs and labour markets in South Africa. South African Journal of Economics. https://doi.org/10.1111/saje.12388
23. Uddin, A. (2025). The Impact of Behavioral Economics on Sustainable Consumer Decision-Making: Insights from Emerging Markets. Journal of Information Systems Engineering and Management. https://doi.org/10.52783/jisem.v10i14s.2312
24. Ullah, S., Ullah, A., & Zaman, M. (2024). Nexus of governance, macroeconomic conditions, and financial stability of banks: a comparison of developed and emerging countries. Financial Innovation. https://doi.org/10.1186/s40854-023-00542-x
25. Vang, A. (2025). על אשראי צרכני, כלכלה התנהגותית והגנה על צרכנים || The Case of Consumer Credit, Behavioral Economics and Consumer Protection. https://doi.org/10.2139/ssrn.5398675
26. Yang, J. (2025). From Consumer Insights to Action: Reshaping Digital Sales and Shopping Experience Strategies for FMCG. https://doi.org/10.20944/preprints202511.1243.v1
27. Youssef, A.B., & Dahmani, M. (2024). Evaluating Environmental Sustainability in Africa: The Role of Environmental Taxes, Productive Capacities, and Urbanization Dynamics. Economies. https://doi.org/10.3390/economies12040080
28. von Carlowitz, P. (2024). The Need for a Contextualized Business Model in African Markets. Management for Professionals. https://doi.org/10.1007/978-3-031-70384-3_2