Thursday, November 26, 2009

Sacrifice.... and Game theory???

For the first time in all this past time, I really see recession hitting in my country and ironically it is not that I find people buying less of Iphones and Playstations; I see recession hitting in on the several sacrifice animal markets. What used to be a thriving market, with hundreds of cattle, which started at least two months before is hardly any noticeable affair this year.Cattle have been reduced in markets exponentially. And hardly anyone is interesting in buying the cattle left:this may be because of recession and I think the downward multiplier effect is much noticeable. However I think there is another factor which is responsible:effect of other people's decisions on a rational consumer's decisions - yes, the game theory. I have discussed about some of the motives an individual has in mind while observing this ritual and I also believe that to a significant extent, the Sacrifice is observed because this is a practice which extends throughout society, so people are sometimes obliged to do it i-e since everyone is performing sacrifice, I may not want to be the odd one out and this might enhance my desire to perform the sacrifice. Since, there is a very pronounced downward multiplier effect in the country, there is no desire to buy some cattle just to 'go with the social norm'. Thus, the phenomenon of diminished sacrifices is further aggravated. However, it would be devilish of me to dismiss all performed sacrifices as products of societal pressure, since many are still committed to perform the ritual due to its purest objectives but it is true that the effect of societal pressure can not be ignored.

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