What is it about?
This paper aims to integrate Islamic and mainstream economics framework towards a more realistic understanding of Muslim consumption behaviour.
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Why is it important?
The paper shows how Islamic institutions like Zakat and Bequests can be incorporated in mainstream economic models and how certain Islamic axioms can be accounted for in model assumptions.
Perspectives
The paper comprehensively reviews the literature in Islamic economics methodology to present the case for integrating mainstream and Islamic approaches to model market behaviour where such integration is possible. Integration requires suitable modifications in assumptions and by including certain distinguishing elements as variables in the economic models.
Dr Salman Ahmed Shaikh
Islamic Economics Project
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This page is a summary of: Towards an integrative framework for understanding Muslim consumption behaviour, Humanomics, May 2017, Emerald,
DOI: 10.1108/h-01-2017-0005.
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