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Showing posts with the label grassroots achievers

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

The Unsurprising Logic of People's Padma

PM Narendra Modi government has transformed the shape and direction of Padma awards. A journey from what Harish Khare of the Hindu once described as the bent and beautiful to the ordinary India achievers seems to be here to stay. Achievers do not seek visibility but are guided by passion irrespective of the level they function. It should be unsurprising to see the winners from grassroots achievers, yet the elitist underpinnings of Lutyen’s patronage creates a sense of pleasant surprise glancing the list of Padma awardees in recent times. Beyond doubt, what Prof Subhash Sharma terms as capillary action, generates increasing returns of success is undisputed given the sheer population and diversity in India. What seems missing was the element of discovery and recognition of more and more Bharat as against India. In the erstwhile years, bestowing Padma awards was a product of strength of lobbying. It seemed inevitable given the selection mechanism and the subsequent post award benef