文章基本信息

标题：Radical uncertainty, non-predictability, antifragility and risk-sharing Islamic finance
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作者：Umar Rafi ; Abbas Mirakhor ; Hossein Askari 等
期刊名称：PSL Quarterly Review
印刷版ISSN：2037-3643
出版年度：2017
卷号：69
期号：279
页码：337-372
语种：English
出版社：Economia civile
摘要：Under conditions of radical uncertainty, risk sharing renders financial systems antifragile. The goal in this introductory paper is to show that risk-sharing Islamic finance shares the characteristics of an antifragile system by mapping some characteristics of antifragility onto those of risk-sharing Islamic finance. We compare the benefits of a risk-sharing financial system to those of the dominant risk-transfer/risk-shifting conventional system of finance, basing ourselves on the criteria of antifragility. We focus on the argument that the antifragility principle of “skin-in-the-game” is equivalent to risk-sharing Islamic finance requirement of “no gain without risk.” Keywords : risk sharing, antifragility, skin-in-the-game, no gain without risk, Islamic finance JEL codes : D81, D89, E44, F34, G32
关键词：risk sharing, antifragility, skin-in-the-game, no gain without risk, Islamic finance