Jurisprudential-economic analysis of price and pricing (Conversion) based on the view of Allamah Hilli

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@ Seyed Aqil Hosseini / Assistant Professor, Department of Economics, Faculty of Humanities, Yasouj University


Abdullah Bahmanpouri / Assistant Professor, Department of Theology, Faculty of Humanities, Yasouj University


Mohammad Reza Heidari Khorasgani / Assistant Professor, Department of Economics, Faculty of Administrative Sciences and Economics, University of Isfahan                                                                                      mrheidari2001@yahoo.com

Received: 2020/04/21 - Accepted: 2020/09/06



One of the most important issues facing Islamic economics is the fairness of the pricing system. Is the market pricing mechanism fair?  This study examines the criteria and examples of fair price from the perspective of Islamic jurisprudence based on the view of Allameh Hilli by using descriptive method and jurisprudential-economic analysis. This study attempts to conclude the important issue of pricing and the limits and scope of the Islamic State's intervention in the market of insights for reference to the heritage of the Shiite school, focusing on the views of Allama Hali. There is a question whether the market price is a fair price? The findings of study show that the current market price is not always considered fair based on Allameh Hilli's point of view. He also cites non-market examples of fair pricing, which include legal prices set by legal authorities (guilds and accountants, as well as a fair and informed estimator). The ruler of Sharia can set a special price in case of misuse of the owner of the goods in determining the price based on some jurists’ points of view including Allama Hali.

Key words: Allameh Hilli, Fair Price, Value Theory, Pricing, Competitive Market.

JEL: D46, B11.


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