Past Failures to Engage with Uncertainty

Richard J. Arend ()
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Richard J. Arend: University of Southern Maine

Chapter Chapter 16 in Uncertainty in Strategic Decision Making, 2024, pp 231-246 from Springer

Abstract: Abstract Explains why it has taken so long to confront uncertainty in a comprehensive way. Identifies the failures to engage fully with uncertainty. Describes the drivers of those failures in the business of science. Argues that probability-based approaches do not apply to uncertainty. Considers alternatives. Argues that new thinking is required when decisions are non-optimizable, thinking that struggles to get published in (social science/business) academic journals.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-031-48553-4_16

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DOI: 10.1007/978-3-031-48553-4_16

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