The Invisible She

Let’s begin with a hypothetical proposition. What if Aristotle had a sister, who equally matched him in will and intellect? Would she have gotten the same opportunities, recognition and fame as her brother?… Maybe not! The patriarchal cultural and social norms prevalent during the Greek civilization would have proved to be major hindrances to her…

IKEA Effect: When Labour leads to Love

Have you ever breathed a sigh of relief, smiled wide and felt a sense of accomplishment after completing a puzzle? Not just puzzles, have you ever baked a cake and ended up valuing it more than a ready-made one? If your answer is yes, then you have experienced what one calls, “The IKEA Effect.” As…

The Sunk Cost Fallacy

  “If you’ve ever held on to a pair of shoes that make your feet ache or a pair of pants that no longer fit you for no other reason than you paid a lot of money for them, you’ve experienced the sunk-cost bias.” In both business and personal finance, fiscal responsibility is constantly preached…

The Behavioral Signs of the Recession

One of the most unconventional ways to know if we are headed towards a recession is by looking at a baby’s bottom. Yes, that’s right. Studies find that parents end up changing baby diapers less frequently in times of a recession, which in turn causes an increase in the sales of baby rash creams. According…

All you need to know about the Global Recession of 2020

During the period between July 2008 and June 2009, major economies suffered a domino effect of the US recession after the country’s housing market collapsed. It was the most severe economic crisis witnessed in the US since the Great Depression in the 1930s. In the 10 years that followed, we saw the world enjoying a…

Mind-ing One’s Business

Segmenting the market is passé- today, it’s all about segmenting the brain!    Thanks to Neuromarketing, regions of the mind are now the battlefields where modern brand wars are fought. Coke versus Pepsi is perhaps the best example of such a collision. In 2004, Simon McClure and his associates conducted a path-breaking experiment studying consumer…

Going Once… Going Twice… Sold!

Do you remember the scene from Willy Wonka and the Chocolate Factory where you see people desperately trying to buy the winning Wonka chocolate bar? The film, though more renowned for its other aspects, conveyed to me in the most simple terms, an old yet inchoate idea of auctions and created a lifelong fascination with…

Aamchi Mumbai, Aamchi Best

“There is a difference between being poor and being broke. Broke is temporary. Poor is eternal.” Robert Kiyosaki in his book “Rich Dad Poor Dad” says that if a son uses the loan given by his dad to come out of his current financial crisis, he then has a ‘rich dad’; but if the son…

Education and the Economy – India and China

“Knowledge is power. Information is liberating. Education is the premise of progress, in every society, in every family.”  –Kofi Annan With 2020 only two months away, we enter a new decade and the 29th year after the economic reforms of 1991. Considering this, it is imperative to look back at the growth of our economy. …