Posts

Showing posts with the label non government organization

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

Economics Motivators of Activism

  There is apparently quite a bit of divide that has emerged with the recent arrest of an environmental activist Disha Ravi from Bangalore in connection with the Republic Day violence and aftermath. Disha apparently is aged twenty two and thus seemed to find sympathy among the section of the crowd that is egging on her. Her supporters are of course bounded by a common dislike often degenerating into a pathological hatred for Modi, which would make her their celebrity hero irrespective of her age. Age might just be a number. Conceivably, Disha began her activism at age of nineteen and has evolved from an environmental activist into one of anti-establishment activist. There might be an irony she is fighting in favour of those farming interests, singularly responsible for environmental degradation of Punjab and Haryana. Rather than examining the merits or otherwise of the case, it would be instructive to decode her motivations for activism. It begs to be understood why youngsters are attr