Game Theory and Pandemics

By Sakshi Dhawan and Kritika Chakrabarti Game Theory Microeconomics is the study of the behaviour of individuals and firms, as well as their interactions with one another. In some ways, it is concerned with a maximisation of individual and firms’ payoffs. Certain foundations of microeconomics depend on a fundamental assumption when determining the payoffs between [...]

Social Dislocation

Dedicated to the upliftment of ancient Indian rural livelihoods By Dr. Annavajhula J.C. Bose. Department of Economics, SRCC Free-market economists are not bothered about social dislocation due to economic dislocation due to their economic policies. Instead, sociologists and psychologists have addressed social dislocation. They point to a building anxiety in societies where social dislocation occurs [...]

Cognitive Biases in the times of a Pandemic

By Kritika Chakrabarti, Junior Editor. The outbreak and exponential growth of the novel coronavirus or covid-19 has not only compelled us to limit ourselves to the confinements of our respective homes but also kindled an urgent need for more and more information on this new and unknown monster engulfing more of us everyday. While most [...]

Fun fact: The Tragedy of the Commons

Garrett Hardin, an evolutionary biologist by education,  first termed the phrase in a scientific paper he wrote titled "The Tragedy of the Commons" in the peer-reviewed journal Science in 1968.  The tragedy of the commons describes an economic problem which individuals try to reap the greatest benefits from a given resource.  Basically, every individual has an [...]

The Fault in Our Stars- The Libra Story

By Mita Chaturvedi (Miranda House) and Amartya Bhargava (IIT-Delhi) In June 2019, the social media giant Facebook formally unveiled its plans to launch a new cryptocurrency in 2020. Facebook says that it will have little to do with the decision making in this currency- but recent scandals have led to many distrusting the company. This, [...]