Behavioral economics and behavioral finance theory deal with the influence of social, cognitive and emotional factors on the economic decisions of individuals and institutions. Since traditional economic theories cannot explain the increasing number of anomalies that appear in the economy, it is necessary to present an alternative to understand how the economy works. What traditional theories do not take into account, but what behavioral theory introduces, is the importance of the human factor, that is, psychological factors. Behavioral finance is a field that seeks to provide insight into the behavior of investors in financial markets by integrating financial methodology with psychology and sociology. The aim of this paper is to highlight the importance of behavioral factors in financial decision-making, in order to better comprehend market anomalies and improve investment decision-making processes. Through an analysis of the history and development of behavioral economics and finance, a comparison with traditional financial theories, and an examination of various anomalies, this paper seeks to demonstrate how behavioral finance offers a compelling alternative to conventional economic models.