Decision Making as Output and Bounded Rationality

  The classical economics theories proceed on the assumption of rational agents. Rationality implies the economic agents undertake actions or exercise choices based on the cost-benefit analysis they undertake. The assumption further posits that there exists no information asymmetry and thus the agent is aware of all the costs and benefits associated with the choice he or she has exercised. The behavioral school contested the decision stating the decisions in practice are often irrational. Implied there is a continuous departure from rationality. Rationality in the views of the behavioral school is more an exception to the norm rather a rule. The past posts have discussed the limitations of this view by the behavioral school. Economics has often posited rationality in the context in which the choices are exercised rather than theoretical abstract view of rational action. Rational action in theory seems to be grounded in zero restraint situation yet in practice, there are numerous restra

Remembering Diego Maradona

 

It was early morning on a rainy July day in India. Argentina was to play Bulgaria in their final group match of the World Cup Soccer 1994. The time difference between the US where it was being hosted and India meant the match would be morning Indian time. India had never and still has never qualified for the World Cup. But as with each year, Indians have developed an affinity for the South American football and no wonder they would be rooting for Argentina. Yet in every Indian fan’s mind was the question whether their idol, the God, Diego Maradona would play. Maradona had been tested positive for drugs after their previous match, a 2-1 win over Nigeria. There were speculations about his future. As countless Indians switched on the television, they heard the news they dreaded the most. Maradona was out of the World Cup. The match was as good as over. If there was no Maradona, it seemed no point in watching. If in a distant India with little football achievements to celebrate, one can imagine the scenario in his home country Argentina or his adopted home Naples which had elevated him to an immortal status in football.

 

Diego Maradona who passed away at the age of 60 on November 25, 2020 due to heart attack was a legend when it comes to soccer. Nothing could beat this magic. As much as he was celebrated on the soccer field, there was perhaps higher turbulence off the field. If his achievements on the football field have attained immortality, his troubles off the soccer field brought him misery. It seemed there were two Maradonas one on the field, the god of soccer, the other off the field, a human unable to cope with the ups and downs of life, perhaps drowned in his stardom, could not live without the attractions, the stardom would bring. The story of Maradona is much better told of what he did on the field than off the field. It is better that people only remember his exploits on the field that perhaps surpassed the extraordinary than what he the trials and tribulations he underwent off the field. He might have been a drug cheat, but perhaps no drugs would have helped him mastering the skills he manifested with such ease on the soccer field. He perhaps had a long drug history before he was caught in 1991 and then again in 1994 but his soccer skills perhaps predated those. He was temperamental that often got better of his senses but they were overshadowed by his mere presence that lent the weight to the sides he played for whether at club or country level. Therefore when one looks at his career it is appropriate that one focuses on his playing skills.

 

In the World Cup of 1994, his exploits including the brilliant goal against Greece and then the assist through a free kick against Nigeria perhaps an hour before he was to be tested for drugs that sent him into a journey of oblivion, conceivably ring in the memories of those fortunate to watch those matches. He was tackled harshly, the law for yellow card for tackling stars originated from there. Yet all that was needed was perhaps a moment or two of indiscretion from the opponents. The memory goes back to the match against Brazil in 1990 when the two South American giants ended up clashing in the second round itself. Brazil had kept the Argentinians in check for most part. One small mistake, allowed Maradona to make that move with just under ten minutes remaining. He passed on to Cannigia who made no mistake. Brazil were out of the World Cup. Maradona did not score any goals in that World Cup but his sheer presence was big enough to carry Argentina to the finals where they lost to Germany by what many term a controversial penalty with five minutes to go for the final whistle.

 

Incidentally, the strategy to stop Maradona whatever means it might take was occurred in the World Cup 1982 when they played the opener against Belgium. FIFA took a serious note only after 1990.  Diego found himself left out of Mario Kempes side of 1978 on grounds of being too young, when Argentina won for the first time, Maradona made his World Cup debut in 1982 as a twenty one year old. Yet for all the expectations about the young superstar in the making, it was of mixed memories. He did display spells of brilliance against Hungary but what ended up with a red card against Brazil which saw Argentina eliminated in the World Cup.

 

It was however the 1986 World Cup in Mexico that was Maradona’s own. Nothing could come in the way as he led Argentina to a victory and a Golden Ball for himself. It seemed that every moment Maradona was on the field, it was magic all around. It was something that he was a man possessed and fortune favoured at every moment. Be it that infamous ‘Hand of God’  goal or any other event, it was Maradona stamp all over. It was too a moment when television was expanding through the world, to many across remote parts of the world, it was the first time, they were watching the World Cup. Soccer was something magic and Maradona the magician. As television revolutionised sports, Maradona was the catalyst. He was the idol around which the soccer seemed to revolve in 1986. His exploits in the club football whether for Barcelona, Boca Juniors or Napoli might have been superlative, nothing ever beats his image and persona that one witnessed in the World Cup of 1986. If his first goal against England was the Hand of God, the second was the ‘Goal of the Century’. The way he made his move to get past countless defenders or at least as they seemed to be to beat past Peter Shilton, the exquisite was written all over. If this was brilliance, he followed with one more against Belgium in the semi-finals as they took revenge against their defeat four years earlier. His exploits in the final against West Germany were no less worth except they lacked that glamour.

 

As one pays tribute to the soccer maestro, Diego Maradona, it is best left not to speak of his turbulences off the field and stick to what he did on the field. As he departs from the world, it would always be good to remember him for all those moments he gave to his fans in making the soccer a magical moment, something unseen from the days of Pele who had retired few years before Maradona began playing. Therefore, a tribute would be to express the gratitude to the great star for all that he gave his fans on the field and those memories shall be savoured for times immemorial.

 

 

 

 

Comments

Popular posts from this blog

Decision Making as Output and Bounded Rationality

The Chicken-Egg Conundrum of Economics

A Note on Supply-Demand Dynamics