Review of Divine Economics Framework

Abstract

The primary research aim of the Divine Economics Framework is to provide an empirical basis of behavioural comparison between religious and non-religious households with regards to their economic and noneconomic choices. The Divine Economics Framework is an effort to establish cross communication between the mainstream economists and faith-inspired economists by using an appropriate and universal methodological framework, which is sufficiently scientific, objective and broadly agreeable in academics. The Divine Economics Framework attempts to endogenize religious attributes which may potentially enable comparison of choices between religious and non-religious as well as less-religious and more religious households. However, reliance on stated preferences, overlap between religious and non-religious activities, inability to observe the motivation and intention behind choices and to judge the quality of religious activities are some of the challenges in the Divine Economics Framework. In further studies presently as well in the future ones, the Divine Economics Framework can incorporate how faithful economic agents may use common property resources and public goods. It can also explore whether the faithful households differ in their choices with regards to biodiversity and negative externalities. Lastly, the future research in the Divine Economics Framework can also explore whether faithful economic agents differ in their willingness to pay for public goods, environmental protection programmes, social protection programmes and other voluntary welfare activities.