An Inquiry into the Interaction between Rational Behavior Models in Conventional Economics and Rationality Theories in other Sciences
Authors
1 Professor, Research Institute of Hawzeh & University
2 Ph.D. candidate of Economics, Research Institute of Hawzeh & University and Faculty of Economics, Managmant & Accounting, Yazd University
Abstract
"Rational behavior" theory and its pertinent models in conventional economics which are dominated by neoclassical approach have suffered from certain shortcomings in terms of showing reality, explaining and predicting some of which have been resolved. The present study firstly intends to investigate whether using other sciences including philosophical, scientific, rational or experimental ones have been effective in tackling the deficiencies. Secondly, could such problems have been alleviated if the Islamic notions had been used? Hence, this interdisciplinary issue was investigated via a historical approach. Using library research as well as applying a descriptive-analytic approach, it firstly was revealed that the rational behavior theory is the product of analogical approach in philosophy which has made its way into different fields such as economics. Since the theory has been constructed on the basis of economic behavioral models, it is founded on various conventional issues emphasized in various fields of study. Yet, due to the emergence of certain doubts, the theory has been tested on different occasions the results of which were not confirmatory. Nonetheless, certain modifications have been successfully incorporated through other sciences. Secondly, one of the remaining deficiencies is its incapability in explaining altruistic behaviors known as "irrespective of self". Finally, given the fact that in the Islamic thought both "human self" and "natural self" have been prevalent for centuries, it is obvious that the conventional economics could not have considered self-sacrificing behavior as unjustified had it used the Islamic notions. Indeed, such a self-sacrificing behavior meets the “human self” need which are of higher priority. Therefore, it is evident that this rejection has roots in the divergence between rationality in conventional economics and Islamic rationality.
Keywords
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