This paper presents a context dependent valuation (CDV) model of decision making under risk where the valuation of a gamble depends not only on its own probability-outcome structure but also on the other gambles that it is compared with. This descriptive model draws motivation from the...

Subjective probabilistic judgments are inevitable in many real life domains. A common way to obtain such judgments is to assess fractiles or confidence intervals. However, such judgments tend to be systematically overconfident. For example, 90% confidence intervals for future uncertain...

The Indian innovation ecosystem is a vibrant space, and India has emerged as the world's third-largest startup economy. Biotechnology, Digital healthcare and Medical devices have emerged as three key sectors in the innovation ecosystem of India. However, there has been no systematic...

The healthcare sector is one of the fastest-growing sectors globally as well as in India, with innovations being one of the key drivers of this growth, especially during this novel coronavirus disease (COVID-19) pandemic. Given its importance for the present and future, healthcare innovations...

The prevalence of slums in large cities has been a cause of concern for policy makers. People living in slums face deprivation on several fronts and slum themselves can be seen as dwelling arrangements, which are inadequate and unfit for habitation. Several attempts have been made through a...

We examine the effects of a systematic increase in the agents operating costs in a standard agency setting with moral hazard. We identify conditions under which the agent benefits from the increase in his costs. Perhaps more surprisingly, we show that the principal and he agent can both benefit...