A Second Opportunity Lost
A Second Opportunity Lost
This chapter analyses events leading up to the decision made by the board of the London Stock Exchange (LSE) in the autumn of 1991 to allocate further funding to Project Taurus. This decision is especially interesting because in retrospect, some people close to the project felt that it should have been stopped. This chapter examines why the decision-makers persisted and whether such persistence was a rational response to circumstances. According to the decision dilemma theory, withdrawal is logical when it becomes clear that decision-makers' expectations will not be met. The project was not stopped in 1991 despite considerable negative feedback. Once it becomes clear that expectations will not be met, persistence is dictated by psychological and social pressures coming into play sequentially. The root of escalation in decision-making, escalation as the observance of due diligence, and the actions of other players, including the market and the Taurus monitoring group, are considered.
Keywords: Project Taurus, London Stock Exchange, funding, persistence, decision-making, decision dilemma theory, withdrawal, escalation, monitoring group, due diligence
Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.
Please, subscribe or login to access full text content.
If you think you should have access to this title, please contact your librarian.
To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .
