Analyzing the contradictory emotions generated by joys and fears of life, and an attempt to understand the constantly changing ratio between life lived and life to be lived.
Thursday, 11 August 2016
Monday, 30 May 2016
A NIGHT OF POETRY AND SUNK COST DILEMMA
A NIGHT OF POETRY AND SUNK COST DILEMMA
A friend rang me three months ago to tell me that a Hindi
Poetry Evening had been organized in his town hall. The entrance tickets was £15 per person. I bought two tickets, for me and my wife.
On the morning of the show I came to know that Mr.
Sondhi, the main poet cum entertainer, in whom I was really interested, was not
coming. The weather should have become warmer by the end of April but it was
still bitterly cold and wet, thanks to a swathe of freezing air from the North
Pole.
Normally we would have taken the tram to go to the
town hall because parking around there is scarce and expensive. But in this
weather I did not relish the walk on either end of the tram journey.
“What is the
point in going if we would be wet and cold by the time we reach there, and
particularly if Mr. Sondhi and his team were not attending” Bibha said. As you
know she is my other half.
I said “but we have already paid. Why to waste the tickets?
We should take the car. If we go an hour earlier, we could find a parking place”.
The idea of losing £30 pounds which I had forked out on the tickets was not very
palatable and it would keep niggling me for a few days at least.
My better half prevailed in the end and we cancelled
the program. We enjoyed the evening at home in front of the fire with home
cooked food and Pinot Noire.
I am constantly amazed and pleased (sometimes
irritated) on how Bibha makes intuitive decisions which produce better
outcomes.
My thinking was a typical example of what is called 'Sunk Cost
Dilemma'. I was prepared to incur further cost in terms of parking fee and
waste more time in order to justify the money already spent on the tickets. When
one spend money and time on a project, one gets emotionally attached to it
usually in direct proportion to the money and the effort invested. Even when it
becomes clear that the project is not going to achieve its goal, people and
organizations keep on investing more money and time.
The concept of sunk cost is well
known and researched subject in business circles. In our day to day life it is
equally important.
It explains, why many of us perpetually
keep expensive but unfitting dresses in our wardrobes, carry on watching an excruciatingly
boring movie and finish a bad tasting meal in a high-priced restaurant.
Thursday, 31 March 2016
SHRINKING OF THE TEA CUP IN INDIA BY THE ECONOMIC AND GENETIC FORCES OR AM I JUST FOOLED BY SCARCITY HEURISTIC?
What is happening to the tea cups and mugs in India? They are getting smaller and smaller every year! By the time I have taken a few sips and started to enjoy the taste of the tea, the cup is empty!
When I came to UK about four decades ago, the size of
the tea cup was same as in India. The tea cup and saucer has now mostly been replaced by the mug, except in a formal set up. Mugs are much more convenient,
single handed operation and less washing up later. It also has a smaller
footprint on the coffee table.
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TEA TAB |
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COFFEE TABLE |
Tea
on a coffee table? Well, you will be surprised to know that initially
tea/coffee was served on a tea table which was rather taller and more suited for high back chairs. With increasing use of low back sofas, lower tables which were kept behind the sofa were used to put magazines, and other nick-nacks. They were also convenient for resting the cups of hot beverages between sips. Later these sofa tables were brought in the front, made even lower and became today’s ubiquitous coffee tables in the living rooms all over the world.
Here in UK, the size of the mug has gradually gone
bigger and bigger. Exactly the opposite has happened in India. What is going
on?
Tea arrived in UK in the early 1600. It was very
costly and was served in small cups. It has become cheaper over the years and
being a cold country no wonder the cups have gradually gone bigger.
Why have the cups become smaller in India? With
globalization tea price in India has gone up relative to the average wage. I
used to bring tea from India previously but for the last few years I found that
good leaf tea is almost the same price as in UK if not costlier. No point in
slugging a heavier suitcase any more.
This enlightenment into the reasons behind diminishing
cup sizes did not help me an iota. I still felt unsated. It is not very polite
to ask the host for another cup, when all other guests are complaining that
they had too much tea. When you know you cannot get another cup, your yearning
just gets multiplied. This is what is known in psychology as scarcity heuristic**. When something
becomes less available, we put a higher value on it.
This scarcity heuristic produces a cognitive bias
which is exploited every day by salesmen all over the world “Only few pieces
are left, Sir. They have been flying off the self fast.” In reality the
backroom might have hundreds of them since the last season.
Anyway whether it is lack of lactose tolerance in
India or Scarcity heuristic causing cognitive error in my mind, I am still
lamenting the diminishing size of the tea cup. On my next trip to India I am
taking my own mug. I just have to find a socially acceptable way to persuade my
hosts to give me tea in my mug.
** Worchel, Stephen; Lee, Jerry; Adewole, Akanbi.
Journal of Personality and Social Psychology, Vol 32(5), Nov 1975, 906-914. http://psycnet.apa.org/journals/psp/32/5/906/
Thursday, 21 January 2016
ARE THE YEARS BECOMING SHORTER AS I GET OLDER?
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The Hour Glass attributed to Giorgione ( - 1478) |
20 days have already passed in this New Year. The
resolutions made at the stroke of midnight on the Eve are fading if not
forgotten completely.
Looking back, 2015 passed very quickly. I know, in
reality it would have taken the same chunk of time as the years before. Mother earth has not suddenly accelerated her ceaseless run around the Sun. But to me,
it does seem that the years have started to pass a bit quicker lately. We came
in our present house many years ago but the day we moved in does not seem that far
away.
As a child I remember eagerly waiting for Diwali and
Holi, when we used to go to our village home and celebrate the festivals with
all our cousins. It used to take ages from Holi to Diwali and then Diwali to
Holi. But now one New Year eve comes tumbling fast the last one and so are the
birthdays of nears and dears.
Though for my grandchildren, the Christmas Eve when
Santa was going to bring their presents, seemed unbearably late. Every day, at
least thrice, they kept on asking “is it tonight ?”
Time certainly seems passing quicker for me, but the
same is not true for the grand children. Has getting old anything to do with this
speeding up of time?
Does our biological pacemaker that determines the
perception of time slows down with age, maybe due to reduced blood flow or
decreased levels of certain neurotransmitters in the brain? No such pacemaker
has been clearly identified but there is a good probability of its existence.
Perhaps it is more likely to be a cognitive illusion
even though it feels very real.
Early in our life many experiences were our firsts,
like first crush, first kiss, first job, and so on. These new experiences made
lasting memories and seemed to have lasted longer than they actually were.
Higher numbers of these experiences make these years look longer when one
recalls back. But now as we become more
experienced, most events are no more new and do not make lasting impressions.
Scarcity of new episodes makes the year seem shorter.
It may also be that we subconsciously measure time
intervals relative to the time we have already lived. For a five year old child,
one year is 20 percent of its whole life. For me it is less than 2 percent. No
wonder it seems shorter!
To make this year last longer, I am going to do more
new things and have some fresh experiences. Today is youngest I will ever be
again!
Hoping the same for you all, I wish you all a very Happy
New Year.
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