The School of Economics and Commerce, KIIT Deemed to be University, successfully organized the ‘International Seminar on Behavioural Economics: An Introduction’ on 29th January 2025.
At the outset, Prof. Sukanta Chandra Swain, Dean of Research and Dean-in-Charge, introduced KIIT and KISS, highlighting their contributions to academic excellence. Pro Vice-Chancellor, Prof. Debashis Bandyopadhyay, discussed the application of behavioural economics in the advertising sector, shedding light on how consumer behaviour is influenced by psychological factors.
Professor Satya P. Das from The University of Wisconsin, USA, the Guest of Honour of the event, delivered a compelling talk, referencing the well-known cold-water experiment to illustrate how individuals perceive and recall experiences of pain and discomfort. He emphasized how decision-making is often influenced by cognitive biases and heuristics rather than purely rational thought processes.
Professor Rabi Narayan Patra from the Council of Analytical Tribal Studies (COATS), Koraput, provided valuable insights into the practical usefulness of behavioural economics in the contemporary era, stressing its relevance in policy-making, market behaviour, and financial decision-making.
To conclude the event, Associate Dean, Dr. Saswat Kishore Mishra, provided a comprehensive summary of the seminar, emphasizing key takeaways and expressing his thoughts on the growing significance of behavioural economics in various domains.
The seminar concluded on a high note, with attendees expressing their appreciation for the enriching sessions. It proved to be a remarkable academic engagement, fostering discussions on how behavioural economics continues to shape decision-making and policy formulation in the modern world. Dr. Ananya Mitra and Dr. Smrutirekha Mohanty coordinated the seminar, which witnessed the participation of 250 attendees, including students, faculty members, and professionals eager to explore the dynamic field of behavioural economics.