By Vedika Sakhardande, Deputy Editor Our daily decisions are based on the information available to us. Our decision of whether or not to carry an umbrella is based on the probability of rain. Similarly, the decision of whether or not to speed through a stoplight is based on the probability of police being stationed around. [...]
By Yashovardhan Singh, Hindu College “The most terrifying moment in my life was October 1962, during the Cuban Missile Crisis. I did not know all the facts- only recently I realised how close we were to war - but I knew enough to make me tremble” -Joseph Rotblat One of the most terrifying moments of [...]
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 [...]
Professor Arunava Sen is a game theorist and specializes in Social Choice Theory, Mechanism Design, Voting and Auctions- the fascinating strategic side of the subject. Loved by his students, Prof. Sen has been teaching at ISI Delhi for more than 30 years. We encourage you to have a look at professor’s research here: https://www.isid.ac.in/~asen/index.html.This post has [...]
By Riya Mathur, Shri Ram College of Commerce How much does Economics need to be about numerical estimates and overwhelming statistics and heavy scientific gibberish? If something like the Coronavirus affects national indicators just as much as it affects the everyday lives and mindsets of people, certainly there would be instances where the subject could [...]
By Aarti, Chief Editor Price of Anarchy, as the name suggests, is the cost that comes with a lack of an authoritative entity in a system. The term, widely studied under multiple spheres of game theory, attempts to measure the degradation of social efficiency when all the agents in the system (and hence, their actions) [...]
Professor Saptarshi Mukherjee is an associate professor at IIT Delhi. He works on mechanism design, social choice, game theory, bounded rationality and teaches microeconomics, game theory and mathematical economics.He received his PhD and graduated from ISI, Delhi Centre and was a post-doc fellow at the Universitat Autònoma de Barcelona, 2011-2013.For more details on this series, [...]
Professor Saptarshi Mukherjee is an associate professor at IIT Delhi. He works on mechanism design, social choice, game theory, bounded rationality and teaches microeconomics, game theory and mathematical economics.He received his PhD and graduated from ISI, Delhi Centre and was a post-doc fellow at the Universitat Autònoma de Barcelona, 2011-2013.For more details on this series, [...]
Professor Saptarshi Mukherjee is an associate professor at IIT Delhi. He works on mechanism design, social choice, game theory, bounded rationality and teaches microeconomics, game theory and mathematical economics. He received his PhD and graduated from ISI, Delhi Centre and was a post-doc fellow at the Universitat Autònoma de Barcelona, 2011-2013. For more details on [...]
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