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HINDSIGHT BIAS AND STRATEGIC CHOICE: SOME PROBLEMS IN LEARNING FROM EXPERIENCE.

136 citations0/0 files storedAcademy of Management Journal

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Decision-Making and Behavioral Economics Experimental Behavioral Economics Studies Leadership, Behavior, and Decision-Making Studies

Abstract

Knowing eventual outcomes often distorts later reevaluations of initial decisions. Does training in strategic decision making overcome such bias? In two experiments, advanced strategy students anal...

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References

1975Judgment under Uncertainty: Heuristics and Biases 1972Essence of Decision: Explaining the Cuban Missile Crisis 1982Strategies for Change: Logical Incrementalism 1974Hindsight-foresight: The effect of outcome knowledge on judgment under uncertainty.1975I knew it would happen 1984Corporate Attributions as Strategic Illusions of Management Control 1977On the psychology of experimental surprises.1987THE ROMANCE OF LEADERSHIP AND THE EVALUATION OF ORGANIZATIONAL PERFORMANCE.

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