Avoiding the Winner's Curse
Avoiding the Winner's Curse
In many cases, company executives have turned away from continuing on a path to actually winning a venture that they started pursuing. This chapter examines the reason why these managers were willing to walk away and considers a number of potential ways in which companies can avoid the winner’s curse. A process for avoiding the curse is presented. The process includes steps that can be done to guard against the excess risk of “winning” and provides a number of “take-aways” for senior management.
Keywords: scenario planning, game theory, imperial CEO, hubris, systems approach, independent boards, problem solving, planning
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