Term of the Week: Price of Anarchy

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) [...]

Term of the Week: The Unclaimed Corpse Indicator

By Mita Chaturvedi, Deputy Editor Many cultures revere the human body in numerous ways. Therefore, it is surprising to few that most cultures practice rituals for the dead and to ‘lay their body to rest’.  However, amidst these grieving people and their families, a few people started looking at the dead for a whole other [...]

Term of the Week (Bonus Edition!): Supply Side Economics and Trickle Up Effect

SUPPLY SIDE ECONOMICS With the Indian government choosing to counter the current economic slowdown using corporate tax cuts as a tool, supply side economics, the oft debated counter to Keynesian management of demand is as relevant as ever before.  Supply side economics is a branch of economics that is focused on increasing the efficiency of [...]