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Managing Risk in High-Stakes Faculty Employment Decisions$
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Julee T. Flood and Terry L. Leap

Print publication date: 2018

Print ISBN-13: 9781501728952

Published to Cornell Scholarship Online: May 2019

DOI: 10.7591/cornell/9781501728952.001.0001

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Risk, Biases, and Logical Fallacies

Risk, Biases, and Logical Fallacies

(p.52) 2 Risk, Biases, and Logical Fallacies
Managing Risk in High-Stakes Faculty Employment Decisions

Julee T. Flood

Terry L. Leap

Cornell University Press

The wide array of risks facing institutions of higher learning is presented. Risk is a multi-faceted concept that can be addressed through avoidance, assumption, reduction, transfer, and sharing using a variety of institutional arrangements. A key contribution of the book is the analysis of social and psychological traps that confront decision makers in academia.

Keywords:   Risk management, Selection ratios, Confirmatory bias, Prospect theory, Backfire effect, IKEA effect, Self-fulfilling prophecy, Bounded rationality, Causal slippery slopes, Vagueness

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