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Showing posts with the label connectivity

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

On Rail Connectivity in Karnataka

Notwithstanding the abolition of a separate Railway Budget, the Pink Book- zonal wise allocation of funds remain keenly awaited. Quantum of fund allocation zone-wise underscore the requisite to extend rail connectivity to new territories. Nonetheless, superfluity of plans aside, ground work remains intermittent. While India is affianced in ritualistic statements, China introduced and expanded the reach of high speed trains; Tibet came on rail map and is a matter of time before their railways touches Indian borders. Given the increasing Chinese reach, Indian achievements if we can term any, pale in comparison. While speeds in China touch 250-300 kmph, most of our trains average around 50 kmph or perhaps even less. The fastest trains in India currently average in the low 90 kmph range. Railway connectivity is not uniform across the country. Beyond doubt, substantial proportion of railway network traces its foundations to the British days. It was military movements accompanied by a