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Showing posts with the label selection process

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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B-School Admission Interviews!

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B-Schools still carry certain prestige despite recent downward trend in salaries on offer. Therefore there is a presumed tough selection process beginning from entrance exams to group discussion to interviews to final selection. Incontestably, given the supply-demand mismatch, more than two thousand B-Schools have mushroomed across the country. To a prospective recruiter, B-School degree of the candidate is essential no doubt but the degree itself carries less weight. It is the prestige of the college that matters more. Harvard graduates do not get jobs because they are Harvard graduates but for the fact they managed to Harvard in the first place itself. Institutions have input barriers and the more tougher the barrier, presumably on   the toughest of the students manage to gain an entry. If someone has gained an entry in an Ivy League B-school, it sends a signal that there is something in the candidate that allowed him or her to crack the Ivy League (global or national). Hence
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