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Gambling on war : confidence, fear, and the tragedy of the First World War

Author: Roger L Ransom
Publisher: New York, NY : Cambridge University Press, [2018]
Edition/Format:   eBook : Document : EnglishView all editions and formats
Summary:
"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 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  Read more...
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Additional Physical Format: (DLC) 2018003780
(OCoLC)1023052640
Material Type: Document
Document Type: Book, Computer File
All Authors / Contributors: Roger L Ransom
ISBN: 9781108600101 1108600107
OCLC Number: 1126614606
Description: 1 online resource (338 pages ): illustrations.
Contents: Confidence, fear, and a propensity to gamble --
Otto von Bismarck and the changing paradigm of war --
Schlieffen's gamble --
A war of attrition --
Economies at war --
War and revolution --
The last gamble --
The chaos of victory --
Epilogue: the tragedy of a world war --
Appendix 1: The composite index of national capability score --
Appendix 2: Woodrow Wilson's fourteen points.
Other Titles: Confidence, fear, and the tragedy of the First World War
Responsibility: Roger L. Ransom, University of California, Riverside.

Abstract:

"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 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."--Provideed by publisher.

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