The Economics of Small Things

Why are all the good mangoes exported from India? Why should we pay our house help more? Why do we hesitate to reach out for that last piece of cake in a gathering? Are more choices really better? Why do many of us offer a prayer but are reluctant to wear a seatbelt while driving? Are Indians hardwired to get grumpy at a peers success? Whats common between a box of cereal and your résumé?Can economics answer all these questions and more? According to Dr Sudipta Sarangi the answer is yes.In The Economics of Small Things Sarangi using a range of everyday objects and common experiences like bringing about lasting societal change through Facebook to historically momentous episodes like the shutting down of telegram services in India offers crisp easy-to-understand lessons in economics. The book studies the development of familiar cultural practices from India and around the world and links the regular to the esoteric and explains everything from Game Theory to the Cobra Effect without depending on graphs or equations-a modern-day miracle! Through disarmingly simple prose the book demystifies economic theories offers delightful insights and provides nuance without jargon. Each chapter of this book will give you the tools to meaningfully engage with a subject that has long been considered alienating but is unavoidable in its relevance. About the Author Sudipta Sarangi is the department head and professor of economics at Virginia Tech (Virginia Polytechnic Institute and State University). Prior to joining Virginia Tech he has been a distinguished professor of business administration at Louisiana State University and a programme director at the National Science Foundation. His research interests range from network theory to experimental and behavioural economics.