Author

• Ebrahim Faraj

Abstract

The theories of consumers’ behavior indicate the human behavior as a creature
having will and aim. These involve particular assumptions that very often are based
on what should be done and what should not be done. In the modern economic
theories, the analysis of the consumers behavior is based on this fact that a rational
economic man only minds his own interests and profits and tries to maximize his
utility from the goods and services. He ranks the various commodities according to
the utility and degree of satisfaction, and then chooses the optimum way to have the
highest satisfaction. While from the viewpoint of capitalism, these hypotheses may
sound reasonable and acceptable, the Islamic thought and values lead to an
alternative set of assumptions that all of these imply a different framework for the
analysis of the typical Muslim consumption behavior. This article comprehensively
surveys Islamic values and constraints on consumption behavior, and then constructs
a mathematical model of optimization based on these assumptions.

Keywords

• consumption
• Islamic Economics
• Islamic values and thoughts
• auspicious consumption
• mathematical model