The Economics of Freebies

By Shambhavi Kumar | Edited by Aman Kayal  As a report published in The Quint aptly sums it up, Freebies are akin to “putting money in your left pocket by taking it out from your right pocket.” With the legitimacy of freebies offered by politicians before elections being challenged in the Supreme Court over the…

IT’S ALL IN THE MIND: THE NEUROECONOMICS OF DECISION MAKING

By Tanisha Kamat | Edited by Ikshita Jain “We could solve all our problems if only we were the efficient, rational human beings of standard economic theory,” said Jeremy Grantham, British investor, and CEO, as he challenged the very base of every modern economic theory: a purely rational human being. Unfortunately, today’s neuroscience tends to…

Cracking the Formula For One Win – The Economics Behind F1 

By Diva Sheth | Edited by Ikshita Jain The world in the 21st century is rapid and fast-paced. The human love for speed along with technology has created what we now call the massive billion dollar industry- the F1 race, a large employer of  thousands of people where teams act as individual businesses that keep…

Japan: A Dormant Economy?

By Atiyah Krishnan Japan, the land of the rising sun, is a country living in the future. They have made some remarkable innovations like the world’s first high-speed bullet train, QR codes, CD players, PlayStation and now even hotels with humanoid robot staff.  This era of rapid growth and development started in the 1960s. The…

PURCHASING ART : A PLOY TO DODGE TAXES?

By Atiyah Krishnan | Edited by Nisha Gokhale More money, more problems.  This is what the rich would have you believe. People with greater incomes are subjected to more taxes and seek to reduce it through different means. They hire tax lobbyists or tax lawyers who are well-versed in the tax code and find loopholes…

Afghanistan: An ever-expanding drug economy

By Abhinav Nath Jha | Edited by Ashna Ranade After returning to power almost after two decades in Afghanistan, one of the first public announcements that the Taliban made was a pledge to curb all modes of production and sale of drugs. Interestingly, that’s a promise the Taliban has made in the past too in…

The Joker: A Game Theorist?

By Drishti Rana “Some men just want to watch the world burn” The infamous phrase by Alfred Pennyworth manages to capture the very essence of the joker’s derangement. Anyone who’s followed The Dark Knight trilogy would agree that  Heath ledger’s character as an inscrutable evil stands to be a masterpiece in the DC universe. With…

The economics of Harry Potter

By Ashna Ranade Have you heard of the phrase “Voldemort to the Economy”? Lord Voldemort is so loathed in the wizarding world that simply mentioning his name is deemed deadly in J. K. Rowling’s Harry Potter series. As a result, practically every witch or wizard refers to Lord Voldemort by aliases like You-Know-Who. The term…

The Economics of a Stellar Civilization

A Theory of Infinite Supply There will come a time when humanity must choose between interplanetary colonization and extinction. Humanity’s shift to an interplanetary species may seem science fiction but it is both inevitable and undergoing. There is no question that this gargantuan shift will change our perception of the endless cosmos.  However, something that…

Date-onomics

Joe Birger, a financial writer for Fortune Magazine wrote and published a book in 2015 on the concept of what he called Date-onomics, wanting to find out why dating is so difficult for some while others have it easy. He used the simple concept of musical chairs to explain this theory. He states, “The longer…