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Showing posts with the label emerging technologies

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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The Hindu Rights Awaits its Gandhi

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  There is a constant debate in the social media on how left has monopolized the intellectual and cultural public sphere. Furthermore, there is a strong stream of liberal thinkers or at least so-called liberal thinkers who strive to have their voice as the monopoly in the public sphere. Without doubt, many have been patronized by the Congress led ecosystem that ruled the country for a significant part of the decades post-independence. There have been non-Congress dispensations yet they have shied away from taking on the powerful lobbies. Some attempt was made in the intellectual sphere or the social sciences sphere by Dr. Murli Manohar Joshi as HRD minister during the NDA rule from 1998-2004 but it was undone the moment the Congress came back to power. Given the liberal secular chatterati which is very vocal and thus entrenched, the scope for the challenger is often diminished.   The emergence of social media gave a new impetus to the growth of the Indian right. The voices on the r
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