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

Archeo-Astronomy- A Note

 

To many history might appear boring, yet it is equally fascinating to a number of others. History is about the past. Yet history teaches us about the present and the future. History is about learning the right lessons. History often repeats itself as a farce often as a tragedy. Avoiding this tragedy is something that becomes critical. It is about regressing the past towards forecasting the future. In quantitative methods, regression is a standard tool to understand the future through the past correlations. History too is about building correlations of the past to project the future. History of course differs from statistical tools in terms of its qualitative and often subjective analysis. History is about decoding the conditions that existed resulting in a war for instance. If a war were to be a dependent variable, then the question would be about those independent variables as also the interaction variables while controlling for certain variables that determined the trajectory of the war. Since history is about understanding the causes, the course and the consequences of the event, the causes have to be correlated with the course and consequences. This is exactly where the causes when get repeated might result in a similar course but perhaps tragic consequences.

 

History is about learning about the livelihoods of the past. It is about learning the society and the norms prevailing in the society. If history does point towards a shortcoming, it is critical to point out the causes for the shortcoming. The shortcoming might not have existed for centuries but would have been an outcome of a certain event. History is also about understanding power contestations. Power has always been fought for ever since the emergence of mankind. It has the survival of the fittest. In other words, it might also be about the survival of the cautious. While survival might have been inherent instinct, there were rulers at all points who were adventurous enough to expand their empire thus their influence of power. They were also adept at defending the situations which would threaten their country. Survival to them was either to flourish or alternatively perish. It is believed that hardly a ruler died in the bed in the ancient Rome.

 

While history often gives us numerous insights to enable us to plan for the future, history is also important for many to understand what happened in those events. The course of the events necessitate understanding the causes and the dates of the events. There are numerous sources through which one can garner insights about history. First, there are literary sources which yield valuable insights. Yet, impartial sources or rather neutral sources may be hard to come by and often are written ages after the event. There is either way colouring of the author’s own perceptions and analysis in decoding the event. It is fascinating to think of dating the events. For instance, one would be curious to know the approximate dates for many a pre-historical events. In the Indian context, it might be the era of Ramayana or Mahabharata. The two epics are historical yet there is little clarity in dating these epics. It is believed these events happened few hundred years before the birth of Buddha and perhaps in the early Vedic ages. There are others who contend they could be an outcome of pre-Harappan era. Either way, literary sources are not something conclusive while there are little other sources to rely upon something like coins or other materials like brassware or utensils of that era.

 

In the Indian context, most of the writings describe the events in terms of planetary formations at that time. Indian calendar was unique in its own way. The scholarship was intrinsically driven towards astrology what was known as jyothish shastra in India. There can be a debate on astrology yet what is unmistakable is its dependence on planetary and star formations. The formations do yield insights about astronomy. The astrology emphasizes that these constellar formations impact the human lives. There of course can be a debate on this. There is little evidence suggesting such influences to be of significant import. It is not belittle astrology but point towards its limitations. Yet away from the analysis, the insights that are unearthed by the recording of those constellations and their formations can yield useful pointers.

 

When one peruses the epics in the Indian context, they do yield lot of records in terms of planetary formations on various days. These planetary formations as with other formations in the galaxy and beyond do not occur every day but have a certain pattern. It is well established that these patterns get repeated at different periods of time. For instance, if Halley’s comet is visible at a certain point, it can be safely deduced what year it might have been. Similarly, if recorded a solar eclipse, through astronomy, one can deduce all possible dates on which the solar eclipse would have occurred throughout history. These are the information that would be of value to historians. Therefore, there is a new branch that seems to be emerging and called archeo-astronomy.

 

The word seems to suggest a combination of archeology and astronomy. It seems to be linking archeological findings to their approximate dates using the astronomical findings. This would seem exciting. In fact, when one looks at the epics and the rich sources they yield in terms of planetary movements this would yield good insights on their dating. In alignment with carbon dating, this field could be of significant help. Yet this field would need tremendous push in terms of publishing peer reviewed papers and thus add on to the journal publications. Most of the findings seem to be connected to astrology and its variants. Efforts must be made to divorce the two and use the findings about planetary movements into dating things. While archeology might be of aid, it is history that has the potential to be reshaped through these insights. With passage of time, it is difficult to pin point events even in fairly recent times historically speaking. If the literary resources and similar resources are linked with the astronomical findings, it would strengthen the findings in terms of concretization of historical happenings. Yet, the field is in its infancy and will perhaps struggle to gain traction. However, the potential for the same if handled with precision could be significant.

 

 

 

 

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