The Supersonic Jet and the Money Already Spent
Continuing a failing project looks irrational until the cost of stopping is counted.
Abhishek Leela Pandey1 Qs · Medium
Behavioural Economics passages for CAT RC
3 long-form behavioural economics essays, written at the density of real CAT passages, each with CAT, XAT and GMAT-style questions and explanations. For real exam passages, practise the solved CAT RC PYQs; for a daily routine, see CAT RC practice.
All Economics & BusinessMacroeconomicsBehavioural EconomicsInequality & DevelopmentBusiness & ManagementWork & LabourFinance & Markets
The Cobra Effect Was a Rat Problem
The most quoted warning about bad incentives concerns snakes in Delhi that nobody has been able to find. The rats of Hanoi, which did exist, made the same point and were forgotten.
Abhishek Leela Pandey3 Qs · Hard
Losing Feels Worse Than Winning Feels Good: An RC Inspired by IIM Indore
Losses hurt twice as much as gains feel good. Kahneman and Tversky called this loss aversion. Economics has not been the same since.
Abhishek Leela Pandey4 Qs