Sanketh is an undergraduate at the University of Maryland: College Park pursuing an individualized major in neuroeconomics with a minor in innovation and entrepreneurship. He is also the co-founder of an app startup centered around behavioral economics to improve clinician wellness. Sanketh hopes to apply concepts from behavioral science and neuroeconomics to improve patient and physician decision-making, and in turn, improve the overall quality of healthcare.
To Pivot, Or Not To Pivot: How Cognitive Biases Can Color Entrepreneurial Decision-Making
A global pandemic and economic meltdown have prompted many businesses to pivot in recent months. But when this crucial decision is colored by unconscious biases, the consequences can be costly. Sanketh Andhavarapu explores some of the factors that can cloud our judgment, and what to do about it.
Game Theory Can Explain Why You Should Wear A Mask Regardless Of What You Believe
To an extent, the COVID-19 pandemic is no longer a battle against the virus, but rather a failure to cooperate within society. Despite scientific evidence, many citizens are still not wearing masks for various reasons. Game theory suggests that wearing a mask results in society’s most efficient outcome, regardless of what one believes.
What Rock-Paper-Scissors Can Teach Us About Our Decision-Making
We are often faced with situations where we need to compete with others to attain a mutually-exclusive outcome. Our success in these scenarios often depends on our ability to make sound, rational decisions, but emotion and arousal can often compromise this. Rock-paper-scissors (RPS) can help us better understand the battle between rationality and emotion, thereby improving our everyday decision-making.
How To Remain Vigilant In The Era Of COVID-19 Information Overload
In early March, the risk of COVID-19 infection was relatively low, yet the public was anxious and took large strides to follow pandemic related safety recommendations. Now, the risk of infection is higher than ever in certain countries, yet the willingness to adhere to safety recommendations has waned. Why?
Time Is Money: How Mental Accounting May Influence What We Spend Our Time On
If time is money, we might then be susceptible to the same cognitive biases encountered in the financial world when making decisions about time. Like money, time is a scarce resource that can be consumed, saved, and invested. This article explores how we can use mental accounting to reduce present bias, minimize procrastination, and improve our work-life balance.