The Impact of Behavioral Economics on Sustainable Consumer Decision-Making: Insights from Emerging Markets

Abstract

Sustainable consumer decision-making is a growing field influenced significantly by behavioral economics, particularly in emerging markets where unique socio-economic and cultural factors shape consumer behavior. This paper explores how behavioral economic principles—such as nudging, bounded rationality, and prospect theory—impact sustainable choices in developing economies. It reviews real-time data, examines case studies, and provides insights into the effectiveness of behavioral interventions for promoting sustainable consumption. Key factors like government policies, corporate initiatives, and consumer awareness are analyzed using tables, diagrams, and graphs to illustrate trends. The findings highlight the importance of behavioral economics in shaping sustainable consumption patterns in emerging markets.