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Showing posts with the label Google

Decision Making as Output and Bounded Rationality

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  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
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Digital Disruption and NIIT-isation

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  The blog has focused in the immediate past on the disruptions in education. The posts on National Education Policy discussed the contours and the likely impact of the new policy on educational disruption. These posts are available here and here . There was also a discussion at certain length on shifting nature of product bundles in education in this post . It is without doubt that education is somewhat ripe for disruption. Yet as everybody awaits education’s own Amazon moment, it is something interesting to find a piece on how Google plans to mark its foray in college education.   Google’s aim is to disrupt the college education not just in the US but across the world. Contrary to the education system in India, college system in US has strong barriers of access especially financially thus making many people drop out of the system. They end up without a graduation degree or earn one pretty late in life. The individualistic nature of life in the US also adds to the pressures on t
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Shape and Structure of Big Tech

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In the US, the approaching elections has resulted in the rediscovery of the curse of bigness. The last major action sought was against Microsoft in the late 1990s and early 2000. However the end result rather than the intended split was a mere rap in the knuckles for Microsoft. There were threats of action during the Obama regime but very little concrete action. In contrast, during Obama, the big technology firms gained in size and market power. Currently, a bipartisan effort is underway to tame the ‘big-tech’, with most suggestions pinpointed on the splitting of big-tech. In orthodox dialect, big tech refers to Google, Apple, Facebook, Amazon and Microsoft. It however can be expanded to other firms also. Little dispute exists over the power build-up of these firms in the last decade or so. Facebook with its acquistions of Instagram and WhatsApp has virtually become undisputed in the social media space. Similarly through multiple approaches irrespective of ethicality or otherwis
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