This book has investigated the phenomenon of escalation in decision-making to understand how and why organizations become involved in decision fiascos and why they persist once matters turn out badly. A basic theoretical question addressed by the book is whether such persistence is erroneous, or whether it is basically an economically prudent response to difficult circumstances. The research focused on a decision by the London Stock Exchange to build a multi-million-pound information technology (IT) venture known as Project Taurus, only to cancel it three years later whilst it was still under construction. Taurus is clearly a case of escalation. The project encountered a stream of negative feedback. The decision-makers were presented with at least two opportunities for withdrawal but opted to persist. Moreover, the project's subsequent collapse was not what the decision-makers envisaged. Taurus was an IT venture that involved working at the boundaries of knowledge. The project was controversial and had far-reaching implications for the entire securities industry.
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.
If you think you should have access to this title, please contact your librarian.