Applying the Adjustment of Nonperfusion Choices in an Equilibrium Model with Heterogeneous AgentsCase Study: Teaching Allocative and Wasted Perfusion Propositions

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Article Type:
Case Study (دارای رتبه معتبر)
Abstract:

Incidence of behavioral heterogeneities and deviation in optimal decision-making in allocating income and adjusting the consumption-saving behavior creates the necessity for Islamic education to correct the Muslim agents’ role-playing. In this research, by applying modified choices based on the teaching Islamic propositions regarding allocative and wasted nonperfusion in an equilibrium model with respect to heterogeneous agents having separable preferencesand solving Bellman-Jacobi-Hamilton equationin the frame of optimil control, the survival probablity of the Muslim agents also, the effect of Islamic intution and education on the modification of non-optimal behaviors, has been investigated. The results show that if the optimal intertemporal allocation beliefs and nonperfusion behaviors are the basis of the behavior of Muslim agents, these types of agents are dominant in the long-time and will survive. Also, after modifying education and awareness of Islamic concepts, on average, 20% of people tend to modify their behavior, and survival rates will increase from 72.25% to 92.25%.

Language:
Persian
Published:
Journal Of Islamic Economics Studies, Volume:13 Issue: 1, 2020
Pages:
33 to 54
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