May 13 2022 to May 13 2022 6:30 p.m.

EVENT HAS ENDED

Where

Bangalore International Centre

7 4th Main Rd, Stage 2, Domlur 560071

Event Description

Decisions are integral to life. Most of our actions involve taking decisions or making choices, and most of them under conditions of uncertainty. Should I wake up early and go for my jog or just laze in the comfort of my bed that much longer; which brand of shampoo, shirt or car should I buy? School A is slightly better than B, but costs 50% more. Is it worth paying that premium for my kid? Should I rent an apartment forty minutes away from work which costs Rs. 24,000 p.m., or the other one that which is only 20 minutes away and costs Rs. 34,000 p.m.? Should a company pay dividends? Should they borrow? Should they takeover another company? Decisions…decisions…decisions…

Economists believe that all such decisions that people take are taken rationally, because humans are rational. Behavioural Economists bung some spanners in the works, questioning that rationality. And therein lies the evolution of behavioural economics from the conventional or neo-classical economics.

Irrationally Rational by Prof. V. Raghunathan in a first book iof its kind, collates the works of ten Nobel Laureates largely responsible for the rise of behavioural economics.