Purpose – The purpose of this paper is to bring out with analytical argumentation and mathematical treatment the central problem of Islamic economics, finance, institutionalism and socio‐scientific thought as it is being practiced today and for some time now. The problem arises from the...

Each solution concept on a class of normal form games with a given outcome space can be regarded as a social choice correspondence. Here we present a general method of constructing compound solution concepts out of given ones by means of games of pretension.

In this paper, we examine the problem of ranking individual opportunity sets on the basis of their freedom of choice in a social setting.

With too much disparity in opinions, minorities may question the legitimacy of majority voting and indermine the unity of the group through political violence or civil disobedience. Properties of an average vvoting rule are investigated here, with particular attention to its ability to protect...

We analyze the problem of choosing the w contestants who will win a competition within a group of n w competitors when all jurors commonly observe who the w best contestants are, but they may be biased. We study conditions on the configuration of the jury so that it is possible to induce the...

Purpose The purpose of this paper is to explore the problem of non-convex labor supply decision in an economy with both discrete and continuous labor decisions. In contrast to the setup in McGrattan et al. (1997), here each household faces an indivisible labor supply choice in the market sector,...