Behavioral Economics and Decision-Making (2015–2026): A Systematic and Critical Review of the Empirical Evidence

Authors

  • Jimmy Roshimber Bazan Rivera Universidad Nacional Agraria de la Selva, Tingo María. Perú
  • Octavio César Marín Chávez Universidad Nacional Agraria de la Selva, Tingo María. Perú
  • Fernando Alberto Santiago Mantare Universidad Nacional Agraria de la Selva, Tingo María. Perú
  • Walter Ortiz Meza Universidad Nacional de Ucayali. Perú
  • Janet Yvone Castagne Vásquez Universidad Nacional de Ucayali. Perú

Keywords:

behavioral economics, cognitive biases, heuristics, decision-making, nudges, systematic review

Abstract

Behavioral economics has emerged as a key field for understanding systematic deviations in economic decision-making from the classical rational model. This study aimed to synthesize and critically evaluate recent scientific evidence on cognitive biases, heuristics, and choice architecture. A systematic review was conducted following the PRISMA 2020 protocol, considering articles published between 2015 and 2026 in Scopus and Web of Science. After the selection process, 21 studies were included for qualitative synthesis. The findings indicate that loss aversion, overconfidence, and cognitive heuristics constitute central determinants of economic behavior. Likewise, nudge-based interventions have demonstrated significant effects in contexts such as health, consumption, and sustainability, although their impact varies depending on the context. It is concluded that behavioral economics has evolved into an interdisciplinary approach with increasing technological integration; however, challenges related to replicability and the generalizability of findings remain.

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Published

2026-05-05

How to Cite

Bazan Rivera, J. R., Marín Chávez, O. C., Santiago Mantare, F. A., Ortiz Meza, W., & Castagne Vásquez, J. Y. (2026). Behavioral Economics and Decision-Making (2015–2026): A Systematic and Critical Review of the Empirical Evidence. Maestro Y Sociedad, 23(2), 1505–1513. Retrieved from https://maestroysociedad.uo.edu.cu/index.php/MyS/article/view/7643

Issue

Vol. 23 No. 2 (2026)

Section

Artículos

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Copyright (c) 2026 Jimmy Roshimber Bazan Rivera, Octavio César Marín Chávez, Fernando Alberto Santiago Mantare, Walter Ortiz Meza, Janet Yvone Castagne Vásquez

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