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Showing posts with the label Srikanth

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

Cricket and Heuristics: Case of K. Srikanth

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The current year’s CK Nayadu awards have been awarded to Krishnamacharya Srikanth and Anjum Chopra. To a generation of those began following cricket in the early 1980s, K.Srikanth was a hero to be emulated of. Flamboyance, instinctive, aggressive, No-tomorrow attitude endeared to his fans. Till today, Srikanth’s achievements are sort of discussed in awe. Yet, glance at this statistics reveal otherwise. He made his debut against England at home in 1981-82 test series and last played for India in World Cup 1992. His record as demonstrated by his statistics is pretty ordinary. In his initial days he was part of the ODI team and could have test place permanent only around 1985 or so. He scored just two Test hundreds hardly an indication for cult he seemed to have built. One day internationals were different ball game together. They were just getting popular in India in the early 1980ss. He seemed to be right man for the right format. When he retired in 1992, her was the highest