Wednesday, November 29, 2006
Amos Tversky and Daniel Kahneman together are the architects of 'Prospect Theory'. The word Prospect was used not because it had anything to do with their ideas but because they believed that the word was catch and could immediately draw the attention of the reader. They have studied in detail the failure of invariance which refers to the inconsistent choices people make when they encounter the same set of problems in different situations. Choices though inconsistent need not necessarily have to be incorrect.
Friday, November 17, 2006
The rains began in late May and show no signs of subsiding even in mid-November. My tennis sessions have gone for a toss as rains muddy up clay courts in which i am used to playing. It's been depressing as one's activities get obstructed and the morning sky appears dark and cloudy. The long monsoons and rainy days are persuading me to search for a change of habitat. Ideally, I shoud migrate to one of those Meditterranean climes where the days are sunny and the nights cool, the clear blue sky during day and the starry heavens gazing at me in the night. But pending such a transition, I should immediately find a second home in that part of India where it doesnt rain during much.