Garcia has a thought provoking piece that warns against short-term thinking. The short version of the paper is that as technology, competition, and strategy have shrunk the business world, firms may have an even greater incentive to think short term. Winner takes all idea and if you do not win the first round, you may not be around to play other rounds. While I am not in total agreement, it is very thought provoking–be sure to read the modified prisoners dilemma and the doctor example, both are good! [FinanceProfessor.com annotation]
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