Economy
Ali Saeedi
Abstract
Methodology of Islamic Economics is a textbook for MA and PhD students of Islamic economics. Using the concept of institution, the author has tried to make a connection between the Shari'a rules, as matters of conventionals, and economic realities and concludes that differences of conventionals in Islamic ...
Read More
Methodology of Islamic Economics is a textbook for MA and PhD students of Islamic economics. Using the concept of institution, the author has tried to make a connection between the Shari'a rules, as matters of conventionals, and economic realities and concludes that differences of conventionals in Islamic societies and others, requires differences in social realities and so Islamic economics requires a different methodology. The author then examines a list of institutions derived from the Shari'a rules and how it affects social realities. The main drawback of the book is to move away from the methodology and there is almost no discussion about the evaluation of theories of Islamic economics or the criterion of the scientific nature of these theories. Much of the book discusses the differences between Islamic economics theories from those of neoclassical economics. The author has used some concepts of institutionalism without clarifying the relationship between institutionalism and Islamic economics. The critique of the foundations of neoclassical economics also relies on other schools of economics, including the German historical school and behavioral and institutional economics, while the author was expected to critique from the perspective of Islamic economics. It is suggested that the title of the book can be changed and the author can make a fundamental review of the book's topics in the next edition.
Economy
Ali Saeedi
Abstract
Recent years have experienced affluent literature in behavioral economics in Persian scope. The Principles of Behavioral Economics: Individual Decision-Making written by Maryam Haji-MollaDarvish is one of these works which is reviewed and criticized in this paper. The focus on the book is on individual ...
Read More
Recent years have experienced affluent literature in behavioral economics in Persian scope. The Principles of Behavioral Economics: Individual Decision-Making written by Maryam Haji-MollaDarvish is one of these works which is reviewed and criticized in this paper. The focus on the book is on individual decision-making and to this extent, after introducing neoclassic models, the theories of behavioral economics are discussed. However, most parts of the book are devoted to introducing neoclassic models while seems unnecessary. The book lacks any coherent theme or main idea and it is just a collection of discussions in behavioral economics. Having no discussion about behavioral issues of Iranian economics has unleashed the book just as a translation work. In spite of insisting on the complementary role of behavioral economics for neoclassic one and not rejecting it, most behavioral economists declare it as a heterodox school against mainstream neoclassic economics. The book is suitable as an auxiliary resource for microeconomics 1 and behavioral economic course.
Economy
Ali Saeedi
Abstract
Behaviral Finance and Wealth Mangement (2006), written by Michael Pompian and translated into Persian by Ahmad Badri, tries to show the deficiencies of classical finance in modeling investment behaviors based on the rational economic models. Using psychological approach, the most important characteristic ...
Read More
Behaviral Finance and Wealth Mangement (2006), written by Michael Pompian and translated into Persian by Ahmad Badri, tries to show the deficiencies of classical finance in modeling investment behaviors based on the rational economic models. Using psychological approach, the most important characteristic of the book is its practical aspects, and it can be used as a handbook guideline for investment advisors which is the author’s expertise. Most of the book is about introducing twenty behavioral and cognitional bios as well as some tests and case studies to recognize them. Although the translation is acceptable, there are some punctuation errors, and choosing some unfamiliar terms affects the readers’ understanding. Emphasizing the operational dimensions, the author has neglected the systematic and coherent approach to the theoretical and financial dimensions of the behavior.Moreover, there are some complete misconceptions about conventional finance, such as misconceptions about the curve of indifference and the nature of work in economics, ignoring normative controversies about economic rationality, emphasizing positive and empirical methods, and neglecting ethics and moral conflicts.
