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Paper Information

Journal:   JOURNAL OF ISLAMIC ECONOMIC STUDIES   SPRING-SUMMER 2016 , Volume 8 , Number 2 (16) ; Page(s) 199 To 226.
 
Paper: 

ASYMMETRIC INFORMATION AND ITS PLACE IN ISLAMIC ECONOMIC

 
 
Author(s):  SADEGHI SAGHDEL HOSSIN, KHANZADEH YAVAR*
 
* KHARAZMI UNIVERSITY
 
Abstract: 

Transparency and asymmetric information is one of the basic assumptions of competitive market, but in the real world person's information are not symmetrical and equal and phenomenon of asymmetrical information is evident. However, sometimes asymmetric information is as natural and artificial forms and the parties earn maximum profit by misusing additional information with respect to the other party.
In this article, phenomenon of asymmetric information and ways to prevent it is investigated by using content analysis method and also by referring to the Koran verses and Islamic jurisprudence by using the knowledge of Islamic economics. The results show that according to the Koran verses and jurisprudential rules asymmetric information is a subject which not only in muslim communities but also in non- Muslim communities is visible. But in Muslim societies due to the terms of trade in the contracts, abuse of this this phenomenon is relatively less. These terms including considering the Terms of the parties, contract issue, properly condition, as well as compliance with the religious, Isalamic moral governance, Guidance and supervision of government, remember of Allah and the fear of the resurrection day, concentrating on ethics in the market, authorizing the termination to swindle person, considering some jurisprudential rules (Prohibit from trading Gharar and pride and …). Islamic governing should more careful monitor the validity of the contract to prevent this phenomenon and abuse of it.

 
Keyword(s): ASYMETRIC INFORMATION, MORAL HAZARD, ADVERSE SELECTION, TRANSPARENCY, ETHICS AND BUSINESS PRACTICES
 
 
References: 
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Click to Cite.
APA: Copy

SADEGHI SAGHDEL, H., & KHANZADEH, Y. (2016). ASYMMETRIC INFORMATION AND ITS PLACE IN ISLAMIC ECONOMIC. JOURNAL OF ISLAMIC ECONOMIC STUDIES, 8(2 (16) ), 199-226. https://www.sid.ir/en/journal/ViewPaper.aspx?id=569726



Vancouver: Copy

SADEGHI SAGHDEL HOSSIN, KHANZADEH YAVAR. ASYMMETRIC INFORMATION AND ITS PLACE IN ISLAMIC ECONOMIC. JOURNAL OF ISLAMIC ECONOMIC STUDIES. 2016 [cited 2021May15];8(2 (16) ):199-226. Available from: https://www.sid.ir/en/journal/ViewPaper.aspx?id=569726



IEEE: Copy

SADEGHI SAGHDEL, H., KHANZADEH, Y., 2016. ASYMMETRIC INFORMATION AND ITS PLACE IN ISLAMIC ECONOMIC. JOURNAL OF ISLAMIC ECONOMIC STUDIES, [online] 8(2 (16) ), pp.199-226. Available: https://www.sid.ir/en/journal/ViewPaper.aspx?id=569726.



 
 
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