The study
of consumer behaviour in conventional economics can be traced back to the work
of Jeremy Bentham’s utility theory.
Utility
theory according to Bentham.
This
theory is based on assumption that:
ü
WHAT GIVES PLEASURE IS GOOD;
ü
AND WHAT CAUSES PAIN IS BAD.
Thus good
and bad or right or wrong were to be determined by the measurable criteria of:
ü
PLEASURE;
ü
AND PAIN.
(Chapra,
1992: 25)
Utility theory has been considered as the
cornerstone of economic for hundred years.
The desire to get pleasure and averting bad with
the influence of hedonism has further spread this hypothesis in the western
world.
to be
continued...
Source: Islamic
Science University of Malaysia
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