Towards an objective measure of gharar in exchange
Author
Source
Journal of Islamic Business and Management
Issue
Vol. 2, Issue 1 (30 Jun. 2012), pp.1-46, 46 p.
Publisher
Riphah International University Riphah Centre of Islamic Business
Publication Date
2012-06-30
Country of Publication
Pakistan
No. of Pages
46
Main Subjects
Economy and Commerce
Islamic Studies
Abstract EN
This paper develops a framework for analyzing gharar based on economic aspects of game theory.
The framework is consistent with Sharī´ah maxims as well as individual gharar transactions widely studied in classical fiqh resources.
In addition, the framework brings insights into explaining different fiqhi positions on controversial gharar contracts.
When extended to contemporary practices, the measure helps understanding the logic of instrument design, and where violation of Islamic rules exactly lies.
The moral, ethical, and social aspects of this framework show the deep consistency between Islamic rules of exchange and general Islamic principles of human behavior
American Psychological Association (APA)
al-Suwaylim, Sami Bin Ibrahim. 2012. Towards an objective measure of gharar in exchange. Journal of Islamic Business and Management،Vol. 2, no. 1, pp.1-46.
https://search.emarefa.net/detail/BIM-601756
Modern Language Association (MLA)
al-Suwaylim, Sami Bin Ibrahim. Towards an objective measure of gharar in exchange. Journal of Islamic Business and Management Vol. 2, no. 1 (Jun. 2012), pp.1-46.
https://search.emarefa.net/detail/BIM-601756
American Medical Association (AMA)
al-Suwaylim, Sami Bin Ibrahim. Towards an objective measure of gharar in exchange. Journal of Islamic Business and Management. 2012. Vol. 2, no. 1, pp.1-46.
https://search.emarefa.net/detail/BIM-601756
Data Type
Journal Articles
Language
English
Notes
Includes bibliographical references : p. 42-46
Record ID
BIM-601756