Paper info: The Tyranny of Average
The Tyranny of Average
Place of Publication
The paper was published at the 25th IMP-conference in Marseille, France in 2009.
This study examines the systemic pressures that companies face in today's business landscape to follow a 'standard mode' in their operation. Research on the 'tyranny of average' extends and complements behavioural approaches to business action by investigating 1) the 'tyranny' as a formidable, collective force that takes the form of a powerful current and prompts companies to herd together; and 2) the 'average' as a set of standards and modes which act as prominent, salient clues to what is expected from companies. The study examines the tyranny of average in the context of financial institutions, and the 2008 crisis in credit and financial markets.