Risk Taking and Decision Making

Risk Taking and Decision Making PDF

Author:

Publisher: Stanford University Press

Published: 1998-02

Total Pages: 540

ISBN-13: 0804765073

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Risks are an integral part of complex, high-stakes decisions, and decisionmakers are faced with the unavoidable tasks of assessing risks and forming risk preferences. This is true for all decision domains, including financial, environmental, and foreign policy domains, among others. How well decisionmakers deal with risk affects, to a considerable extent, the quality of their decisions. This book provides the most comprehensive analysis available of the elements that influence risk judgments and preferences. The book has two dimensions: theoretical and comparative-historical. The study of risk-taking behavior has been dominated by the rational choice approach. Instead, the author adopts a socio-cognitive approach involving: a multivariate theory integrating contextual, cognitive, motivational, and personality factors that affect an individual decisionmaker's judgment and preferences; the social interaction and structural effects of the decisionmaking group and its organizational setting; and the role of cultural-societal values and norms that sanction or discourage risk taking behavior. The book's theoretical approach is applied and tested in five historical case studies of foreign military interventions. The richly detailed empirical data on the case studies make them, metaphorically speaking, an ideal laboratory for applying a process-tracing approach in studying judgment and decision processes at varying risk levels. The case studies analyzed are: U.S. interventions in Grenada in 1983 and Panama in 1989 (both low risk); Soviet intervention in Czechoslovakia in 1968 (moderate risk): U.S. intervention in Vietnam in 1964-68 (high risk); and Israel's intervention in Lebanon in 1982-83 (high risk).

Resolve in International Politics

Resolve in International Politics PDF

Author: Joshua D. Kertzer

Publisher: Princeton University Press

Published: 2018-12-04

Total Pages: 258

ISBN-13: 069118108X

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Why do some leaders and segments of the public display remarkable persistence in confrontations in international politics, while others cut and run? The answer given by policymakers, pundits, and political scientists usually relates to issues of resolve. Yet, though we rely on resolve to explain almost every phenomenon in international politics—from prevailing at the bargaining table to winning on the battlefield—we don't understand what it is, how it works, or where it comes from. Resolve in International Politics draws on a growing body of research in psychology and behavioral economics to explore the foundations of this important idea. Joshua Kertzer argues that political will is more than just a metaphor or figure of speech: the same traits social scientists and decision-making scholars use to comprehend willpower in our daily lives also shape how we respond to the costs of war and conflict. Combining laboratory and survey experiments with studies of great power military interventions in the postwar era from 1946 to 2003, Kertzer shows how time and risk preferences, honor orientation, and self-control help explain the ways leaders and members of the public define the situations they face and weigh the trade-offs between the costs of fighting and the costs of backing down. Offering a novel in-depth look at how willpower functions in international relations, Resolve in International Politics has critical implications for understanding political psychology, public opinion about foreign policy, leaders in military interventions, and international security.

Overconfidence and Risk Taking in Foreign Policy Decision Making

Overconfidence and Risk Taking in Foreign Policy Decision Making PDF

Author: Imran Demir

Publisher: Springer

Published: 2017-03-24

Total Pages: 142

ISBN-13: 3319526057

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This book introduces a new perspective on risk seeking behaviour, developing a framework based on various cognitive theories, and applying it to the specific case-study of Turkey’s foreign policy toward Syria. The author examines why policy makers commit themselves to polices that they do not have the capacity to deliver, and develops an alternative theoretical model to prospect theory in explaining risk taking behaviour based on the concept of overconfidence. The volume suggests that overconfident individuals exhibit risk seeking behaviour that contradicts the risk averse behaviour of individuals in the domain of gain, as predicted by prospect theory. Using a set of testable hypothesis deduced from the model, it presents an empirical investigation of the causes behind Turkish decision makers’ unprecedented level of risk taking toward the uprising in Syria and the consequences of this policy.

Politics and International Investment

Politics and International Investment PDF

Author: Witold J. Henisz

Publisher: Edward Elgar Publishing

Published: 2002-01-01

Total Pages: 216

ISBN-13: 9781782543374

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'A challenging research monograph that will appeal to international business scholars in the area of transaction cost economics (TCE), political risk, multinational enterprise (MNE) host country bargaining, and international joint ventures. It offers both theoretical and empirical advances in this area.' - Alan Rugman, Journal of International Business Studies

Protean Power

Protean Power PDF

Author: Peter J. Katzenstein

Publisher: Cambridge University Press

Published: 2018-01-18

Total Pages: 383

ISBN-13: 1108425178

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Inquires into the role of the unexpected in world politics by examining the protean power effects of agile innovation and improvisation.

Political Psychology in International Relations

Political Psychology in International Relations PDF

Author: Rose McDermott

Publisher: University of Michigan Press

Published: 2009-12-22

Total Pages: 320

ISBN-13: 0472022628

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This outstanding book is the first to decisively define the relationship between political psychology and international relations. Written in a style accessible to undergraduates as well as specialists, McDermott's book makes an eloquent case for the importance of psychology to our understanding of global politics. In the wake of September 11, the American public has been besieged with claims that politics is driven by personality. Saddam Hussein, Osama bin Laden, Kim Chong-Il, Ayatollah Khameinei-America's political rogues' gallery is populated by individuals whose need for recognition supposedly drives their actions on the world stage. How does personality actually drive politics? And how is personality, in turn, formed by political environment? Political Psychology in International Relations provides students and scholars with the analytical tools they need to answer these pressing questions, and to assess their implications for policy in a real and sometimes dangerous world.

War and Chance

War and Chance PDF

Author: Jeffrey A. Friedman

Publisher: Oxford University Press

Published: 2019-04-01

Total Pages: 272

ISBN-13: 0190938048

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Uncertainty surrounds every major decision in international politics. Yet there is almost always room for reasonable people to disagree about what that uncertainty entails. No one can reliably predict the outbreak of armed conflict, forecast economic recessions, anticipate terrorist attacks, or estimate the countless other risks that shape foreign policy choices. Many scholars and practitioners therefore believe that it is better to keep foreign policy debates focused on the facts - that it is, at best, a waste of time to debate uncertain judgments that will often prove to be wrong. In War and Chance, Jeffrey A. Friedman shows how foreign policy officials often try to avoid the challenge of assessing uncertainty, and argues that this behavior undermines high-stakes decision making. Drawing on an innovative combination of historical and experimental evidence, he explains how foreign policy analysts can assess uncertainty in a manner that is theoretically coherent, empirically meaningful, politically defensible, practically useful, and sometimes logically necessary for making sound choices. Each of these claims contradicts widespread skepticism about the value of probabilistic reasoning in international politics, and shows how placing greater emphasis on assessing uncertainty can improve nearly any foreign policy debate. A clear-eyed examination of the logic, psychology, and politics of assessing uncertainty, War and Chance provides scholars and practitioners with new foundations for understanding one of the most controversial elements of foreign policy discourse.

Rational Theory of International Politics

Rational Theory of International Politics PDF

Author: Charles L. Glaser

Publisher: Princeton University Press

Published: 2010-04-26

Total Pages: 329

ISBN-13: 1400835135

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Within the realist school of international relations, a prevailing view holds that the anarchic structure of the international system invariably forces the great powers to seek security at one another's expense, dooming even peaceful nations to an unrelenting struggle for power and dominance. Rational Theory of International Politics offers a more nuanced alternative to this view, one that provides answers to the most fundamental and pressing questions of international relations. Why do states sometimes compete and wage war while at other times they cooperate and pursue peace? Does competition reflect pressures generated by the anarchic international system or rather states' own expansionist goals? Are the United States and China on a collision course to war, or is continued coexistence possible? Is peace in the Middle East even feasible? Charles Glaser puts forward a major new theory of international politics that identifies three kinds of variables that influence a state's strategy: the state's motives, specifically whether it is motivated by security concerns or "greed"; material variables, which determine its military capabilities; and information variables, most importantly what the state knows about its adversary's motives. Rational Theory of International Politics demonstrates that variation in motives can be key to the choice of strategy; that the international environment sometimes favors cooperation over competition; and that information variables can be as important as material variables in determining the strategy a state should choose.