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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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Blyton's Galliano and Theorizing Leadership

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To more than a generation of children growing up, Enid Blyton offered a panorama very few can afford to miss. The escapades into realms of realistic fantasy more than enjoyment was an experience few could describe in words. The contemporary woke find might things wrong one too many yet its hardly justifiable to judge a past person on current political correctness. It would be best to enjoy Blyton for what they were rather than through coloured blinds.     Yet, as we glance as adults, Blytons work very diverse and assorted, it is pleasantly surprising to find insights into man management and several other lessons from dissecting the content in the books. He observation and description are too touching and in more ways than one points to Blyton’s understanding of human behaviour and nature.   Browsing, by accident, couple of her circus books, it was revealing to find each character and action of that character could yield insights into several of organizational and behavioural the
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Caselets on Leadership

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A Troublesome Employee Ms. Z was a team leader managing a team of 5 members. There are targets to be achieved quarter over quarter. Any lapse would severly curtail her growth irrespective of the reasons for lapses. A new employee Ms. V joins the team. Ms. V suffers a hangover from a personal problem and thus seems least interested in work. No matter whatever task assigned to her, she is stubborn not to work. At the very least, a perception is sought to convey she is not capable of working. Ms. Z however knows V has some capabilities and perhaps pretending the personal hangover as an excuse for non-performance. She perhaps is bidding time to get a better offer. A discussion with the superior fails to yield any result. Apparently, the boss seems least interested in penalising the employee as she seems to have been pushed into the organization on compassionate grounds by somebody top in the hierarchy. The other members of the team start complaining about the non-performance of the
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