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Title: Rational Expectations in a Pandemic
Authors: Bhattacharya, Ayan
Keywords: Becker
Scarce supplies
Economic policy
Issue Date: Aug-2020
Publisher: The Financial Research and Trading Laboratory (FRTL), IIM Calcutta
Abstract: Gary Becker, a pioneering economist based at the University of Chicago, was famous for applying principles of economic theory to questions hitherto considered outside of core economics. In doing so he expanded the oeuvre of economics appreciably, while bringing a new level of rigor to many important questions in sociology and human affairs. Followers of Becker choose economic ideas with universal appeal and then apply them to social questions to obtain new insights. In today’s world, the most important social question seems to be the pandemic along with its unending cycles of lockdowns. While economists justifiably worry about the economic fallouts of the situation, could principles from the dismal science provide new insights into how we the frame broader social rules in these embattled times?
Description: Biosketch: Ayan Bhattacharya is an Assistant Professor of Finance at the University of Chicago Booth School of Business and the City University of New York, Baruch College. He has a Ph.D. from Cornell University and his research focus is financial economics, especially financial market design and asset pricing.
Appears in Collections:Issue 2, August 2020 (8th Anniversary Issue)

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