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Showing posts with the label architecture

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

Central Vista and Modern Indic Architecture

  Sometime after January 15, the construction of the Central Vista is likely to begin. The aim is to hold the Parliament Session in the Central Vista in the 75 th year of our independence. It marks the departure of holding sessions in the current parliament building a product of the colonial times. There is no doubt, that the current building while dilapidated does represent many memorable in the journey to what India is today. In emotional terms, it is not very easy to replace the current parliament building with a new one. Indubitably, there exists a case for growth into modernity of the 21 st century, there exists definitely a strong case for making buildings and by extension the architecture adaptable to the current needs. Yet, there would be traditionalists who would yearn for those days of yore. In a country’s lifetime, there are moments when one moves from the past to the present without necessarily destroying the past but through a careful preservation of the past in building