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Showing posts with the label Shivaji

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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China, India and Afzal Khan

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  The winter is seemingly setting in Ladakh yet there seems to be no end in sight for the standoff that has ensued since April this year. The Chinese forces are digging in and reinforcing. Ditto for the Indian forces. The mind games are truly on. Similarly, the Indian forces have taken control over series of peaks hitherto unoccupied and overlooking the Chinese positions. If it was believed China had occupied the strategic heights in the early part of the summer, as the winter sets in, it seems Indians have occupied strategic heights in some other sectors. While the game might moving towards a Prisoner’s Dilemma, yet no one wants to be the ‘Chicken’. It seems a game to the finish. It is unlikely that the game will have any other ending other than the fight to the finish in the long run. The current standoff are more an exercise of preparation for the final war. It is about buying time for the final preparations. The long negotiations are aimed at wearing down the enemy. Each side does
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Mughal Museum or Shivaji Museum?

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  The Chief Minister of Uttar Pradesh Yogi Adityanath recently announced the Mughal museum being set up in Agra would be renamed after the legendary Maratha ruler Chatrapati Shivaji. To state this set a cat among the pigeons is perhaps an understatement. There are reams of articles that are appearing in the mainstream highlighting the alleged contributions of the Mughals to the Indian society. News channels gave space perhaps more than sufficient enough to demonstrate the virtues real or imagined of the Mughal rulers. There was further talk of how Mughals are intrinsic to enrichment of Indian culture. There were in parallel attempts to portray Shivaji as a ruler of Marathas with little to contribute to Uttar Pradesh. This despite the fact, Shivaji’s empire was expanded by his successors, the Peshwas to cover significant portion of present day Uttar Pradesh.   Nothing should surprise us. In an earlier post, it has been highlighted that how Mughal Man’s Burden was demolished through
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