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The principle of the malevolent hiding hand; or, the planning fallacy writ large

Abstract:

We identify and document a new principle of economic behavior: the principle of the Malevolent Hiding Hand. In a famous discussion, Albert Hirschman celebrated the Hiding Hand, which he saw as a benevolent mechanism by which unrealistically optimistic planners embark on unexpectedly challenging plans, only to be rescued by human ingenuity, which they could not anticipate, but which ultimately led to success, principally in the form of unexpectedly high net benefits. Studying eleven projects, ...

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Publication status:
Published
Peer review status:
Peer reviewed

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Institution:
University of Oxford
Oxford college:
St Anne's College
Role:
Author
Publisher:
Johns Hopkins University
Journal:
Social Research More from this journal
Volume:
83
Issue:
4
Pages:
979-1004
Publication date:
2017-02-01
ISSN:
0037-783X
Keywords:
Pubs id:
pubs:585114
UUID:
uuid:acfcf49f-80bc-49fa-9a71-21e528a6b5c9
Local pid:
pubs:585114
Source identifiers:
585114
Deposit date:
2017-06-20

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