The Smaller Picture

By Ruth D’souza If you’ve ever fallen prey to the attractive marketing strategy of small sized products, you are not alone. Be it the attractive packaging, the aesthetic of a product that fits in your palm or even the allure of using it as a sample without spending too much, these smaller packs have proved…

Gender responsive budgeting: A fiscal tool to bring about gender parity

By Nisha Gokhale Whether it is data on the rapidly dipping female labour force participation rate or a report on girls withdrawing from schools during the pandemic, a cursory glance at the newspaper headlines is enough to remind oneself of the widening gender gap. When concerns regarding gender disparity are raised, they are usually doused…

The Economics of Organized Crime: Drug Cartels and the Mafia

Samarth Khanduri “Plata O Plomo” – Silver or Lead.  The beloved phrase from “Narcos” perfectly describes the Narcotics business and the works of most organized criminal entities. Either get paid handsomely for the work that you do or face the wrath of a lead bullet.  From the Italian and American mafias to the Colombian and…

The ‘HOW’ Factor : Why Experiences Trump Everything Else

“Ease of use may be invisible but its absence sure isn’t” – IBM If you have ever lost anything (who has not?), you know what follows next. The pain of losing stuff is undeniable. Unfortunately, what can add salt to the injury is the unpleasant task of filing for a claim. (I, for one, can…

Growing or Thriving?

The term ‘growth’ has always been associated with an upward movement. In literal terms, it refers to “an increase in the size or the importance of something” (Cambridge Dictionary, n.a.). In economics, growth is a subject area in itself. Primarily, economic growth is a rise in the production of goods and services in an economy…

The Economics of Having an Edge

Saudi Arabia is a desert country. Yet it imports sand from Australia. What’s the reason behind this bizarre arrangement? The sand Saudi Arabia has is not the right kind to build concrete for its towering skyscrapers and fancy resorts. These are too small and too smooth to be much use for construction; you might as…

The Clock, The Consumer and The Consumer’s Folly

The cornerstone to the foundation of economics is the assumption that consumers are rational individuals and make pragmatic decisions. But, therein lie some core behaviour traits of humans, who remain irrational consumers, which urge them to act in ways vastly contradictory to logical expectations. A well-known example of consumer irrationality is the Zero Price effect…

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…