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Reframing the Past: Thoughts about Business Leadership and Decision Making under Uncertainty

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  • Lamoreaux, Naomi R.

Abstract

How do business leaders make decisions in the face of uncertainty? More important, how do business and economic historians write a narrative that links a business problem, its proposed solution, and the outcome of this action without allowing the success or failure of the decision to determine the trajectory of the story? Counterfactual hypotheses and contextual analysis provide two tools that can help historians minimize the distortions of hindsight and recover a sense of the contingency that surrounds all decisions.

Suggested Citation

  • Lamoreaux, Naomi R., 2001. "Reframing the Past: Thoughts about Business Leadership and Decision Making under Uncertainty," Enterprise & Society, Cambridge University Press, vol. 2(4), pages 632-659, December.
    • Handle: RePEc:cup:entsoc:v:2:y:2001:i:04:p:632-659_00
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    Cited by:

    1. Lepore, Amedeo, 2012. "New research methods of business history," MPRA Paper 36952, University Library of Munich, Germany.
    2. Raboy, David G., 2017. "An introductory microeconomics in-class experiment to reinforce the marginal utility/price maximization rule and the integration of modern theory," International Review of Economics Education, Elsevier, vol. 24(C), pages 36-49.
    3. Danny Miller & Cyrille Sardais, 2015. "Bifurcating Time: How Entrepreneurs Reconcile the Paradoxical Demands of the Job," Entrepreneurship Theory and Practice, , vol. 39(3), pages 489-512, May.
    4. Madureira, Nuno Luís, 2010. "The European debate on rate systems in the interwar period," Energy Policy, Elsevier, vol. 38(8), pages 4703-4711, August.
    5. Cyrille Sardais & Martin Blom & Josée Lortie, 2021. "Exit, voice, loyalty, and … disobedience: When a CEO opposes his principal," Corporate Governance: An International Review, Wiley Blackwell, vol. 29(2), pages 188-207, March.

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