This Nobel-Winning Idea Has Failed India

(Bloomberg Opinion) — Economists like to think of themselves as mathematicians — or, if feeling momentarily humbler, as physicists. This year’s winners of the Nobel Prize in economics, however, seem to conceive of themselves more as engineers. Like Alvin Roth and Lloyd Shapley, who won the prize in 2012, Paul Milgrom and Robert B. Wilson are specialists in “market design,” a field which, as Roth wrote in a famous paper, calls for “an engineering approach.”

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Roth argued that market designers should take bridge-builders as their exemplars: “Engineering is often less elegant than the simple underlying physics, but it allows bridges designed on the same basic model to be built longer and stronger over time, as the complexities and how to deal with them become better understood.”

The bridge that Milgrom and Wilson built was the 1994 auction of telecommunications spectrum by the Federal Communications Commission, later called “the

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Big Idea Ventures, Ashika Group, GFI India team up to launch alternative protein fund and accelerator

Giving a boost to the growing alternative protein sector, global investor Big Idea Ventures (BIV), Kolkata-based financial services firm Ashika Group, and non-profit Good Food Institute India (GFI India) have joined hands to launch India Alternative Protein Fund and Accelerator.

According to the official statement, the BIV-Ashika India Alternative Protein Fund will launch an accelerator in 2021, which will support startups involved in innovative plant-based, fermentation-derived, and cultivated protein industries, with investments and mentorship to help them grow across the Indian and international market.

The alternative protein or ‘smart protein’ sector is soaring globally, with rapidly growing global consumption and billions of dollars in investments in companies such as plant-based meat and egg pioneers Beyond Meat and Eat Just, Inc. GFI India has undertaken research which underscores Indian consumers are primed to eat these foods in line with their global counterparts, particularly as the COVID-19 pandemic brings

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India declines proposal to test Sputnik-V COVID-19 vaccine in large study

Oct 7 (Reuters) – India’s drug regulator has knocked back a proposal from Dr Reddy’s Laboratories Ltd to conduct a large study in the country to evaluate Russia’s Sputnik-V COVID-19 vaccine and has asked it to first test the vaccine in a smaller trial.

The recommendations here by an expert panel of the Central Drugs Standard Control Organisation (CDSCO) noted that safety and immunogenicity data from early-stage studies being conducted overseas is small, with no inputs available on Indian participants.

India’s move comes as a setback for Russia’s plan to roll-out the vaccine even before full trials show how well it works, while pushing back its efforts to win approval for the vaccine in the country that leads the world on average number of new infections.

India is expected to overtake the United States over the next several weeks as the country with the world’s largest number of cases.

The

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