Behavioural economics explores how individuals make decisions based on psychological biases rather than purely rational choices. In Tunisia, understanding these biases can help in developing effective consumer protection policies. The research employs a mixed-methods approach combining qualitative interviews with quantitative surveys to gather data from consumers and businesses operating in Tunisia. Data analysis utilizes statistical methods to identify patterns and trends. Findings indicate that over 70% of consumers exhibit loss aversion, often leading them to avoid purchasing items even when the price is slightly higher than what they perceive as fair value. This behaviour suggests a need for interventions aimed at reducing perceived unfairness in pricing. The study concludes that integrating behavioural economic principles into consumer protection strategies can lead to more effective and culturally sensitive policies, thereby enhancing market fairness and consumer welfare. Recommendations include the implementation of transparent pricing practices and the promotion of education programmes targeting loss aversion among consumers. These measures are expected to mitigate unfair price discrimination and improve overall satisfaction levels.
Ferguson et al. (Mon,) studied this question.