The paper supplements the theory of consumer behavior with insights from the primary sources of Islam. A consumer who maximizes utility operates within four dimensions: moderation, extravagance, waste, and niggardliness. These dimensions take different meanings in each social stratum. A...

This study explores the interaction between trade and geography in shaping the Islamic economic doctrine and in turn the comparative development of the Muslim world. We build a model where an unequal distribution of land quality in presence of trade opportunities conferred differential gains...

The theoretical foundation of Islamic economics and finance is based on, among other things, Homo Islamicus or Islamic Man. Islamic economics and finance theoreticians contrast Homo Islamicus with Homo economicus or the Economic Man. This paper examines whether or not Homo Islamicus is...

This study explores the interaction between trade and geography in shaping the Islamic economic doctrine and in turn the comparative development of the Muslim world. We build a model where an unequal distribution of land quality in presence of trade opportunities conferred differential gains...

The existing literature on Islamic economics has not undergone any of the processes of verification or falsification. It is mostly restatement of the postulates as found in the Qur'an or hadith. The literature on methodology of Islamic economics is either superfluous, or ambiguous or confusing....

This study explores the interaction between trade and geography in shaping the Islamic economic doctrine and in turn the comparative development of the Muslim world. We build a model where an unequal distribution of land quality in presence of trade opportunities conferred differential gains...

Many scholars criticize that Islamic economics has emerged merely as a sub-discipline of ‘Western' economics rather than an independent discipline of science. It is further argued that Islamic banking and finance, the major field in Islamic economics discipline, has developed in a way such...

Chapter 1: Polar visions of the Economy -- Chapter 2: Critiques of Mainstream Economic Doctrines -- Chapter 3: Critiques of the Current State of Islamic Economics -- Chapter 4: Ethics of Iqtisaad -- Chapter 5: Islamic Perspectives on the Cycle of Civilization and Problem of Knowledge -- Chapter...

This paper examines the impact of market competition on the stability of Islamic and conventional banks in countries where these banks operate alongside one another. To investigate this issue, we use a sample of 100 Islamic and 390 conventional banks from 19 countries. Our baseline result shows...