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Equilibrium Models and Managerial Team Learning

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Energy, Natural Resources and Environmental Economics

Part of the book series: Energy Systems ((ENERGY))

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Abstract

The purpose of this paper is to enhance the insights of whether and, if so, how equilibrium models can enhance managerial team learning in complex and ever-changing situations. To handle this research challenge we first clarify the concept of managerial team learning. Then, we present an example of an equilibrium model, VisualGas, which has been developed to help managers in a large oil and gas company to improve their understanding of market behavior. We report on a quasi-experimental study where a team of managers/market analysts evaluated the consequences for the company of a critical market event, first without and then with the system. It was found that use of the system led to a more varied interpretation of the event, i.e., learning, but also to a focus on the system variables only.

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Author information

Authors and Affiliations

  1. Department of Strategy and Management, Norwegian School of Economics and Business Administration (NHH), Breiviken 40, 4045, Bergen, Norway

    Anna Mette Fuglseth & Kjell Grønhaug

Authors
  1. Anna Mette Fuglseth
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  2. Kjell Grønhaug
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Corresponding author

Correspondence to Anna Mette Fuglseth .

Editor information

Editors and Affiliations

  1. Business Administration, Department of Science and Management Sci, Norwegian School of Economics and, Helleveien 30, Bergen, 5045, Norway

    Endre Bjørndal

  2. , Department of Science and Management Sci, Norwegian School of Economics and Busine, Helleveien 30, Bergen, 5045, Norway

    Mette Bjørndal

  3. Dept. Industrial & Systems, Engineering, University of Florida, Weil Hall 303, Gainesville, 32611-6595, Florida, USA

    Panos M. Pardalos

  4. Business Administration, Dept Science, Management Science, Norwegian School of Economics and, Helleveien 30, Bergen, 5045, Norway

    Mikael Rönnqvist

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Fuglseth, A.M., Grønhaug, K. (2010). Equilibrium Models and Managerial Team Learning. In: Bjørndal, E., Bjørndal, M., Pardalos, P., Rönnqvist, M. (eds) Energy, Natural Resources and Environmental Economics. Energy Systems. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-12067-1_7

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  • DOI: https://doi.org/10.1007/978-3-642-12067-1_7

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  • Publisher Name: Springer, Berlin, Heidelberg

  • Print ISBN: 978-3-642-12066-4

  • Online ISBN: 978-3-642-12067-1

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