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Showing posts with the label counterfactual history

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

Working with Students: List of Works Produced

Project ‘A la carte’ – Ingraining concepts in geographically and academically heterogeneous students towards aligning their skill-sets with corporate requirements necessitate departure from orthodox models. Students are given a choice to explore any topic of their passion and build the research output in diverse forms. Research output both primary and secondary, qualitative and quantitative have been presented in formats ranging from research   papers, case studies, maps, videos, podcasts, posters, exhibits, product and service design and development, apps, book reviews, theatrical/short film adaptations, dance/music adaptations, satires among others. The approach has increased ‘placeability’ quotient besides receiving critical acclaim and has benefited more than 250 students.    An illustrative list (not able to include each and everything) is given below. Focus has been on recent works and might have skipped some good works of the past List:   ‘Mapping the rela