Prospect Theory

Prospect Theory and the Problem of Strategy: Lessons from Sicily and Dien Bien Phu

Prospect Theory and the Problem of Strategy: Lessons from Sicily and Dien Bien Phu

The inability or unwillingness to recognize defeat and its implications resulted in both greater material losses and amplified the strategic consequences for inevitable failures. Strategy is a human endeavor, and prospect theory offers unique insights into another dimension of the human face of war, providing a framework for examination of paradoxical decision making and human error in strategy and tactics.