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Dr. Vidya Hattangadi
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    The Invention of the Shopping Cart and Its Psychological Impact on Consumer Behaviour

    The Invention of the Shopping Cart and Its Psychological Impact on Consumer Behaviour

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    Organizational structures  shape company’s value creation

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    What is Asset Specificity?

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    Do you know who Owns Corporations?

    Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

    Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

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    What are Treasury Bills?

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    What is SERVQUAL Model?

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    What is Olfactory Marketing?

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            The Story Behind the song “Khoya Khoya Chand” from Film Kala Bazar

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            Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

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              The Invention of the Shopping Cart and Its Psychological Impact on Consumer Behaviour

              The Invention of the Shopping Cart and Its Psychological Impact on Consumer Behaviour

              Organizational structures  shape company’s value creation

              Organizational structures  shape company’s value creation

              What is Asset Specificity?

              What is Asset Specificity?

              Do you know who Owns Corporations?

              Do you know who Owns Corporations?

              Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

              Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

              What are Treasury Bills?

              What are Treasury Bills?

              What is SERVQUAL Model?

              What is SERVQUAL Model?

              What is Olfactory Marketing?

              What is Olfactory Marketing?

              “It all Starts with Nescafe”

              “It all Starts with Nescafe”

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                Educational Leaders who fought for women’s education did not seek validations from society

                Educational Leaders who fought for women’s education did not seek validations from society

                Experiential learning is the future

                Experiential learning is the future

                How to write an appropriate title 

                How to write an appropriate title 

                Can India regain the title of Vishwaguru?

                Can India regain the title of Vishwaguru?

                What are the problems faced in online lectures?

                What impact can Knowledge have on Society?

                A Big Salute all our teachers!!!

                What is Triple Helix Model for innovation?

                Where in the world teachers are most respected?

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                  Importance of Citation in Research

                  What is Autoethnography style of PhD

                  Can scholarly articles/papers from blogs be cited in research work?

                  The complete guide on how to select the right PhD topic

                  All you wanted to know out how a PhD thesis is assessed?

                  Mixed Method Research is Most Suitable

                  What is the difference between economic bubble and economic boom?

                  How to write a Research Paper?

                  Case Study is one of vital type of research

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                    American Hegemony is at critical juncture 

                    American Hegemony is at critical juncture 

                    Impact of the Thucydides Trap and Clash of Civilization  on International Businesses

                    Impact of the Thucydides Trap and Clash of Civilization  on International Businesses

                    Launch of my book  titled “International Business”

                    Launch of my book titled “International Business”

                    Gift City is becoming India’s Capital Gateway

                    Gift City is becoming India’s Capital Gateway

                    The science of Psephology

                    The science of Psephology

                    What is the Future of BRICS Currency?

                    What is the Future of BRICS Currency?

                    Ram Mandir tableau graced the 75th Republic Day of India

                    Ram Mandir tableau graced the 75th Republic Day of India

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                    Why should our history be re-written?

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                      Manthan – The Movie about India’s Dairy Cooperative Movement  

                      Guiding 35 PhDs: A Journey of Mentorship, Transformation and Academic Fulfilment

                      Guiding 35 PhDs: A Journey of Mentorship, Transformation and Academic Fulfilment

                      The Story Behind the song “Khoya Khoya Chand” from Film Kala Bazar

                      The Story Behind the song “Khoya Khoya Chand” from Film Kala Bazar

                      Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

                      Arrival of my new book on Faith Economy co-authored by Dr. Shilpa Shinde

                      The story behind the Swedish word Lagom which means Just Enough

                      The story behind the Swedish word Lagom which means Just Enough

                      Lasting friendship between R.K.Narayan and Graham Green that shaped the famous film novel ‘The Guide’

                      Lasting friendship between R.K.Narayan and Graham Green that shaped the famous film novel ‘The Guide’

                      Mumbai’s Historic Single Cinema Screen Maintains Brand Loyalty of Marathi Cinema Viewers 

                      Why Memories are a fuel of our life

                      Why Memories are a fuel of our life

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                      The Peltzman Effect explains why people break laws

                      Dr Vidya Hattangadi by Dr Vidya Hattangadi
                      September 26, 2022
                      in GENERAL, People and Trends
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                      The Peltzman Effect

                      Sam Peltzman is Professor Emeritus at the Booth School of Business, University of Chicago. Professor Peltzman’s research has focused on issues related to the interface between the public sector and private sector economy. His published work includes numerous articles in academic journals. His theory ‘the Peltzman Effect’ has become famous in which he states that people are more likely to engage in risky behaviour when security measures have been mandated. This is because people think they will escape the ill effects.  The Peltzman Effect became well-known for Sam Peltzman’s supposition about mandating the use of seatbelts in automobiles, which people refuse to wear.

                       For example, efforts to curtail smoking by raising state cigarette taxes have been met by smokers increasing use of cigarettes with elevated levels of tar and nicotine. Smoking is a major risk factor for infections like pneumonia, heart attacks, strokes, chronic obstructive pulmonary disease. Educated people who can read the risks printed on cigarette packets smoke it more.

                      Why do we people break rules? Is it because of our poor civic sense? We carry a chalta hai attitude with us always. We break primary traffic enforcement laws such as not wearing the seatbelt while driving, talking on cell phone while driving, parking car in crowded market area discomforting others, following signals haphazardly stopping behind lines thinking we are smart and won’t get caught.  We are sloppy or distracted when we like to challenge the authority thinking who is he to tell me?

                      We are so absurd in our thinking. Most of us think we are honest, we follow rules majority of times, when we litter the roads we feel it’s ok to do it just once/twice, when we break speed limits we feel it’s ok to do just once or twice. We even tell lies to our kid’s teacher in school for not completion of homework, when child reaches late to school we tell some cooked story which the child observes.

                      Psychologists have found that rule-breaking makes people feel powerful, smart, and inventive. When we break the rules we feel like a macho man/woman. Last year from March lockdowns and social distancing measures introduced around the world to try and curb the Covid-19 pandemic are reshaping our lives. Legislating activities that were once everyday freedoms are creating new social norms. Despite mask mandates across several states and recommendation from the Ministry of Health and Family Welfare (MoHFW) as a life-saving gesture, many individuals choose not to wear masks in public. They are least bothered about themselves and others. When the rule says to curb social gatherings, we see people enjoying parties.  In the markets, on roads we see people rooming without masks and not maintaining social distancing.  

                      We know that breaking rules cannot be justified. No excuse is good enough. No violation of the law is legitimate. You follow rules because it is the ethical thing to do. Being law-abiding reduces chaos and ensures safety.

                      But there are always some people who don’t play by the rules. In countries where rule-breaking is a phenomenon, those countries have never flourished. Behavioural scientists say corona virus cases are surging by cultural, demographic and psychological factors that can make the rule-breakers seem more selfish and dangerous.

                      When our perception of risk reduces, we usually adapt our behaviour by taking higher risks. When lawmakers make laws to make environment safer, people try to shrug away from laws wanting to take chance with situations thinking they can move ahead without being harmed. The Peltzman Effect helps the behavioural scientists in seeing how much people value safety over other benefits. 

                      Tags: Covid 19 pandemicDr. Vidya Hattangadi
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                      Dr Vidya Hattangadi

                      Dr Vidya Hattangadi

                      Dr. Vidya Hattangadi is an accomplished academician, researcher, and thought leader with over four decades of combined experience 20 years in managerial roles in industry and 24 years in management education. She holds a PhD in Marketing Management from Savitribai Phule Pune University and a D.Litt. from the University of Mumbai for her post-doctoral published work. She is a prolific writer and blogger, Dr. Hattangadi runs the widely read blog www.drvidyahattangadi.com, which enjoys strong organic traffic and engages readers across a broad spectrum of subjects, including management, leadership, psychology, social trends, music, current affairs, and politics and psychology. Her blog is 12 years old. Her experience of combining knowledge of industry work with an academic background creates a powerful, "pracademic" profile that bridges the gap between theoretical knowledge and practical application. This hybrid approach has made her a powerful Professor in the classrooms and she has produced graduates who are not just knowledgeable, but industry-ready. She worked for Maratha Mandir’s Babasaheb Gawde Institute of Management Studies as Director, Research Head and Professor. She has written a fortnightly column for The Financial Express from 2017 to 2021 and has contributed extensively to leading publications such as The Hindu, Free Press Journal, and The Economic Times. Her articles are known for their analytical depth, clarity, and relevance to contemporary issues. Dr. Hattangadi has successfully guided 35 PhD scholars in Management Studies across institutions such as the University of Mumbai, SNDT Women’s University, and Yashwantrao Chavan Maharashtra Open University (YCMOU) and Guglielmo Unimarconi Italian University. Currently, she is working on her YouTube channel "Vidya's Vidya" mentoring doctoral researchers in the areas of Finance, Strategic Management, Organizational Behaviour, Human Resource Management, and Marketing Management. She is an accomplished author, she has written books on Strategic Management, Buyer Behaviour, International Business and Entrepreneurship Management, Faith Economy, contributed chapters to four edited volumes of books, and published over 350 research papers in national and international journals. Her scholarly work has strong visibility and impact, reflected in her robust presence on Google Scholar, Research Gate, Vidwan etc. Her research in all fields of management studies is truly ground-breaking. The rigor and depth of her knowledge have set a new standard in our field of management studies.

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