Journal of Economics and Development Studies

Behavioral Biases in Individual and Institutional Decision-Making in Africa: What Implications for Development Policies?
Kouakou Thiédjé Gaudens-Omer

Abstract
This article aims to analyze the tools that behavioral economics could bring to development economics for a better understanding of “homo africanus” behaviors. These, embedded in social structures, can, in many cases, be interpreted as cognitive, emotional or moral biases, which could justify the proposition of "nudge" development policies in Africa. These policies aim, by correcting behavioral biases, to bring about individual and institutional decisions in line with rational choices. It is still necessary that the theory of rational choices be refounded taking into account the primacy of social structures on economic decisions, specific to African cultures. It is at this price that partial and false public policies based on a caricatural description of African realities will terminate.

Full Text: PDF     DOI: 10.15640/jeds.v6n2a2