Behavioural Economics Guidance for Consumer Protection in Cape Verdean Markets

This study explores how behavioural economics can be applied to enhance consumer protection in Cape Verdean markets. Qualitative research methods were employed, including literature review and expert consultations to analyse the impact of behavioural economics on market dynamics in Cape Verde. Themes emerged indicating that consumers are often influenced by framing effects and loss aversion when making purchasing decisions. The findings suggest that incorporating these psychological factors into consumer protection policies could significantly improve outcomes for both businesses and consumers. Recommendation is to integrate behavioural economics principles into policy frameworks, particularly in areas such as financial literacy campaigns and product labelling regulations.