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Influenced by 19th century positivism [5] and Charles Darwin's evolution, for both Friedrich Engels and Karl Marx, the idea of uncertainty and chance in social dynamics (and thus unintended consequences beyond results of perfectly defined laws) was only apparent, (if not rejected) since social actions were directed and produced by deliberate human intention.
However, negative utilitarianism lays out a consequentialist theory that focuses solely on minimizing bad consequences. One major difference between these two approaches is the agent's responsibility. Positive consequentialism demands that we bring about good states of affairs, whereas negative consequentialism requires that we avoid bad ones ...
The article describes a situation where a series of small, individually rational decisions can negatively change the context of subsequent choices, even to the point where desired alternatives are irreversibly destroyed. Kahn described the problem as a common issue in market economics which can lead to market failure. [1]
To understand all the consequences of an important choice takes time and attention -- even if both are hard to come by. I've written before about the importance of sleep. Tired brains lose their ...
Inaccurate self-assessment could potentially lead people to making bad decisions, such as choosing a career for which they are unfit, or engaging in dangerous behavior. It may also inhibit people from addressing their shortcomings to improve themselves. Critics argue that such an effect would have much more dire consequences than what is observed.
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Of these, sunk costs, time investment, decision maker experience and expertise, self-efficacy and confidence, personal responsibility for the initial decision, ego threat, and proximity to project completion have been found to have positive relationships with escalation of commitment, while anticipated regret and positive information framing ...
Over the past decade, the bank has regularly failed to enforce its rules, with devastating consequences for some of the poorest and most vulnerable people on the planet, an investigation by the International Consortium of Investigative Journalists, The Huffington Post and other media partners has found.