Finance Cell of India's #1 Co-ed College
India’s investment and consumption activity worsened in July, with economic growth showing little signs of recovery from a five-year low. But improvement in the deteriorating situation requires saving rather than consumption. Savings are a provision for an individual’s financial security in times of emergency, and fortunately, gross financial savings of Indian households have been on …
In a few years, India will surpass China as the most populated country in the world. This reflects the enormous untapped potential of the Indian market, waiting to be harnessed. Almost all American companies like Google, Amazon and Uber have been relatively successful in the Indian market. But there is one notable absentee: Apple. Apple, …
The Monty Hall problem is a classic counter intuitive statistics puzzle. Loosely based on the American television game show ”Let’s Make a Deal”, this puzzle is named after its original host, Monty Hall. The game play is based on conditional probability. The player is presented with 3 doors. Behind one door is the prize the …
On one end of the spectrum lies the idea of majority consensus, which drives the functioning of our society at large. On the other end is the Paradox of Unanimity, challenging the reliability of unanimous decisions in situations where perfect agreement is unlikely. This paradox explains why incredibly consistent agreement in conditions where disagreement is …
The Monty Hall problem is a classic counter intuitive statistics puzzle. Loosely based on the American television game show ”Let’s Make a Deal”, this puzzle is named after its original host, Monty Hall. The game play is based on conditional probability. The player is presented with 3 doors. Behind one door is the prize the …
In probability theory, the birthday paradox revolves around the probability of two people having the same birthday in a set of ‘n’ randomly chosen people. This paradox, along with finding its significance in cryptography today has also featured in various narratives in the past, for instance, in Arthur Clarke’s work, ‘A Fall of Moondust.’ While …
While facilitating Cryptocurrency was Blockchain’s original purpose, this technology can be used in unfathomable number of fields. From maintaining medicinal records to tracking financial transactions, Blockchain can be used everywhere. Invented by an anonymous group of people called Satoshi Nakamoto in 2008, this technology uses cryptography and operates on a peer to peer network to …
The Josephus problem, also known as the suicide problem is a mathematical puzzle linked to a certain counting-out game. Named after the Jewish soldier and historian Flavius Josephus, the problem dates back to the first century against the backdrop of a battle between the Roman and Jewish forces. Today, this intriguing problem extends to real …
The trolley problem is a classic case of incongruity between two schools of moral thought. The Utilitarian principle dictates that an appropriate action is one, which aims at maximising the good. That is, the greater good is that which benefits a large number of people. The other argument stems from the normative ethical theory or …
Most conventional theories in economics are based on the premise of rational decision making by individuals. However, the idea of bounded rationality dictates how humans are bounded in their ability to be completely rational. It illustrates how people often make irrational decisions owing to their own cognitive limitations, the time constraints faced by them along …