Why Do Key Decision-Makers Fail to Foresee Extreme ‘Black Swan’ Events? A Case Study of the Pike River Mine Disaster, New Zealand

Why Do Key Decision-Makers Fail to Foresee Extreme ‘Black Swan’ Events? A Case Study of the Pike River Mine Disaster, New Zealand

This research addresses the strategic issue of why key decision-makers fail to foresee potential extreme ‘black swan’ events. Following a review of the literature, a conceptual framework is developed that identifies two types of organisational blindness that are reflected in Tetlock’s hedgehog cogni...

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Bibliographic Details
Main Authors: Richard John Logan, Robert Y. Cavana, Bronwyn E. Howell, Ian Yeoman
Format: Article
Language:English
Published: MDPI AG 2024-01-01
Series:Systems
Subjects:
Knightian uncertainty
uncertainty aversion
fox/hedgehog cognitive thinking styles
narrative economics
complex systems
decision-making under uncertainty
Online Access:https://www.mdpi.com/2079-8954/12/1/34

Internet

https://www.mdpi.com/2079-8954/12/1/34

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