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Showing posts with the label Denisovian

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

Denisovians and Mystery of Vanara and Asura

Doordarshan is telecasting Ramayana and Mahabharata daily. Apparently, along with other re-runs, Doordarshan seems to regain its mojo. Yet as one watches two epics in their serialised form, quite a few insights does emerge. At one point, they might be reinforcing the value based system. At another level, they are classical illustrations of societal structures and values of the period. They illustrate the life of a royal as opposed to someone a common man. There are political insights too. The intricacies of power play are well charted out. The role of women does not really build on the stereotype though barriers of entry exist. Castes’ too plays certain role but not in a way that society seems to have perceived to it exist for all over the years. In many ways. Ramayana seems to follow a linear society with high degree of order and hierarchy. Deviations would be frowned severely though they do exist. Mahabharata on the other hand, is a good example of complex society full of realpoli