WHAT IS THE ECONOMIC SURVEY? Economic Survey, presented in the Parliament ahead of the Union Budget, is the Ministry of Finance’s flagship document. The Economic Survey holds detailed information about the Indian economy over the past year. It is a basic document which summarises previous government policies, their economic impact and roadmap for the future. [...]
Now, when someone from a relatively inferior group tries to marry into a so-called superior group, it supposedly ‘hurts’ the latter’s ego, and their fraudulent honor. And to relieve themselves of the lifelong disdain from other members of the society, the parents decide to kill their own blood and the lover.
Losses hurt more than gains feel good.
Unlike the original Nobel Prizes (Physics, Chemistry, Physiology, Medicine, Literature and Peace), established by the Swedish industrialist Alfred Nobel at the end of the nineteenth century, the economics prize was established by the Swedish central bank (Sveriges Riksbank) in 1968 and is thus officially called the Sveriges Riksbank Prize in Economic Sciences in Memory of [...]
Article by Mita Chaturvedi, Deputy Editor. What does the term free-market mean to most of us? To some, the free market is a blessing while others look at it as a curse. Many talk about how owing to the now general disdain for free markets, it is easy to forget the economic miracles they have [...]
By Shubham Dubey from Inderprastha Engineering College and Aarti from Miranda House College “There should exist among the citizens neither extreme poverty nor again excessive wealth, for both are productive of great evil.” - Pluto Inequality has been the reality as far as we can think of the past of our various societal systems. It [...]
The Ambiguity Effect is a cognitive bias that often results from a lack of information and can impact the decision making process. It is due to this effect that people have a tendency select options for which the probability of the favourable outcome is known, as opposed to an option for which the probability of [...]