Experimental Tests of the Moms Economicus

This article has multiple objectives. It seeks to identify those assumptions of neoclassical economics which are vindicated by experimental tests and those which fail such tests. The author tries to simultaneously expose the limitations of neoclassical economics and Islamic economics by pointing ou...

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Autor principal: Abdullah Yavas
Formato: article
Lenguaje:EN
Publicado: International Institute of Islamic Thought 1999
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Acceso en línea:https://doaj.org/article/b6f0d21a202f4257addb5dcbebd11f66
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spelling oai:doaj.org-article:b6f0d21a202f4257addb5dcbebd11f662021-12-02T17:49:47ZExperimental Tests of the Moms Economicus10.35632/ajis.v16i4.20972690-37332690-3741https://doaj.org/article/b6f0d21a202f4257addb5dcbebd11f661999-01-01T00:00:00Zhttps://www.ajis.org/index.php/ajiss/article/view/2097https://doaj.org/toc/2690-3733https://doaj.org/toc/2690-3741 This article has multiple objectives. It seeks to identify those assumptions of neoclassical economics which are vindicated by experimental tests and those which fail such tests. The author tries to simultaneously expose the limitations of neoclassical economics and Islamic economics by pointing out that some assumptions of the rational choice model fail while others, often ignored by Islamic economists, are proven valid. The article also seeks to summarize the results of experimental testing about agent behavior under a controlled environment. The author hopes that this initiative will encourage Islamic economists to use experimental methods as a means for testing their theoretical assumptions. The author concludes that human agents are neither as self-regarding as the homo economicus model predicts nor are they as other-regarding as the model homo Islamicus predicts. Abdullah YavasInternational Institute of Islamic ThoughtarticleIslamBP1-253ENAmerican Journal of Islam and Society, Vol 16, Iss 4 (1999)
institution DOAJ
collection DOAJ
language EN
topic Islam
BP1-253
spellingShingle Islam
BP1-253
Abdullah Yavas
Experimental Tests of the Moms Economicus
description This article has multiple objectives. It seeks to identify those assumptions of neoclassical economics which are vindicated by experimental tests and those which fail such tests. The author tries to simultaneously expose the limitations of neoclassical economics and Islamic economics by pointing out that some assumptions of the rational choice model fail while others, often ignored by Islamic economists, are proven valid. The article also seeks to summarize the results of experimental testing about agent behavior under a controlled environment. The author hopes that this initiative will encourage Islamic economists to use experimental methods as a means for testing their theoretical assumptions. The author concludes that human agents are neither as self-regarding as the homo economicus model predicts nor are they as other-regarding as the model homo Islamicus predicts.
format article
author Abdullah Yavas
author_facet Abdullah Yavas
author_sort Abdullah Yavas
title Experimental Tests of the Moms Economicus
title_short Experimental Tests of the Moms Economicus
title_full Experimental Tests of the Moms Economicus
title_fullStr Experimental Tests of the Moms Economicus
title_full_unstemmed Experimental Tests of the Moms Economicus
title_sort experimental tests of the moms economicus
publisher International Institute of Islamic Thought
publishDate 1999
url https://doaj.org/article/b6f0d21a202f4257addb5dcbebd11f66
work_keys_str_mv AT abdullahyavas experimentaltestsofthemomseconomicus
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