Behavioral economics has arisen as an important discipline that bridges the gap between psychology and traditional economic theory, questioning the conventional wisdom that consumers are always rational actors. Furthermore, behavioral economics provides frameworks for understanding the intricacies of consumer behavior, particularly in the digital age, both in microeconomic domain (consumers’ behavior) and macro-plane (public policy). Based on integrative review method, the study revealed and summarized existing theories of behavioral economics, their paradigms, implications, and contradictions. In particular, the peculiarities of nudging are analyzed, including the ones in today’ digital age. Behavioral economics manifestations both at micro-level and macro-level, as well as micro-macro levels dependencies were analyzed, and implications for public policy were suggested. Potential ramifications of the findings include improved prediction models, promoting wise choices, and upending preexisting economic paradigms. This study adds to the body of knowledge in this developing topic by outlining the importance of researching behavioral economics in order to have a solid grasp of human behavior in social and economic contexts.
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