Purpose - This paper aims to show that zakat solves the collective action problem by changing the framework of giving. An additional purpose of this paper is an attempt to fill a critical gap in the Islamic economics literature. This gap concerns the nature and role of zakat in effectively...

Purpose - This paper aims to show that zakat solves the collective action problem by changing the framework of giving. An additional purpose of this paper is an attempt to fill a critical gap in the Islamic economics literature. This gap concerns the nature and role of zakat in effectively...

Prisoner's Dilemma, Chicken, Stag Hunts, and other two-person two-move (2 × 2) models of strategic situations have played a central role in the development of game theory. The Robinson-Goforth topology of payoff swaps reveals a natural order in the payoff space of 2 × 2 games, visualized in...

Prisoner's Dilemma, Chicken, Stag Hunts, and other two-person two-move (2 × 2) models of strategic situations have played a central role in the development of game theory. The Robinson-Goforth topology of payoff swaps reveals a natural order in the payoff space of 2 × 2 games, visualized in...

Over the past decade, 14 countries have undertaken a total of 18 debt restructurings. Concerns surrounding some of these restructurings have led policymakers and capital market participants to review their policies and practices on restructuring sovereign debt. In particular, court rulings as a...

Using a complete panel of Ghanaian cocoa producers' societies in the 1930s, we investigate whether group interaction problems threatened (i) capital accumulation, (ii) cocoa sales and (iii) cooperative survival as membership size increased.  We find evidence of group interaction problems.  The...

Using a complete panel of Ghanaian cocoa producers’ societies in the 1930s, we investigate whether group interaction problems threatened i) capital accumulation, ii) cocoa sales and iii) cooperative survival as membership size increased. We find evidence of group interaction problems. The net...