Gambling on War : Confidence, Fear, and the Tragedy of the First World War
Book Details
Format
Hardback or Cased Book
ISBN-10
1108485022
ISBN-13
9781108485029
Publisher
Cambridge University Press
Imprint
Cambridge University Press
Country of Manufacture
GB
Country of Publication
GB
Publication Date
Jun 28th, 2018
Print length
346 Pages
Weight
676 grams
Dimensions
15.70 x 23.60 x 2.10 cms
Product Classification:
First World WarEconomic historyFirst World War
Ksh 14,750.00
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Discusses the irrational, risk-taking decisions of overconfident leaders which led to a seminal turning point in world history that shaped the twentieth century.
The First World War left a legacy of chaos that is still with us a century later. Why did European leaders resort to war and why did they not end it sooner? Roger L. Ransom sheds new light on this enduring puzzle by employing insights from prospect theory and notions of risk and uncertainty. He reveals how the interplay of confidence, fear, and a propensity to gamble encouraged aggressive behavior by leaders who pursued risky military strategies in hopes of winning the war. The result was a series of military disasters and a war of attrition which gradually exhausted the belligerents without producing any hope of ending the war. Ultimately, he shows that the outcome of the war rested as much on the ability of the Allied powers to muster their superior economic resources to continue the fight as it did on success on the battlefield.
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