Tag Archives: Rational Consumer

Limitations of Mainstream Consumer Theory in Economics

Salman Ahmed Shaikh Mathematical tractability has restricted economic analysis of consumer behavior within a confined boundary of certain axioms. Often, these axioms are found to be empirically false. Even more importantly, these axioms and the analytical framework based on them … Continue reading

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Islamic Economics and Behavioral Studies of Religious Agents

Salman Ahmed Shaikh There are two basic contents of religion, the beliefs and the other is practices. For the belief part, commonly shared history, archeology and science also provides sufficient hints for one to rationally decide and keep the belief … Continue reading

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