Importance of Psychology of Different Groups in Economics from A Religious Perspective

Abstract

Despite all the recent discoveries in behavioral psychology, ethics, religion, and finance, the spirit of homo- Despite all the recent discoveries in behavioral psychology, ethics, religion, and finance, the spirit of homo-economicus still dominates contemporary economics, political science, and sociology. The old parts of the political economy reveal that leading figures such as Ibn Khaldun, Weber, Bacon, Hobbes, and Smith were not apostles of pure economic rationality and a materialistic mindset. While most of these thinkers plausibly endorsed "rationality" in the context of social and cultural realities, they were also aware of the systematic irrationality of cognitive biases that were later "discovered" by contemporary behavioral economists. We are trying to answer the question, "are there a discrepancy or non-complacency in rationality understanding of economic decisions based on differing needs of economic agencts from a religious perspective?". So, based on assumptions that religion, economis and psychology are effecting each other, it is argued that a well-defined hypothesis and assumptions on the relationship between psychology and economic behaviors need to be cleared at least three aspects: first, "identifying key factors that influence mood"; second "exploring the relationship between behavior, faith, and psychology"; and third "considering the possible effects of psychology, faith, and behaviors of different groups of people on economic decisions”. A set of reasonable suggestions for policy makers is going to be produced in this direction.