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Case
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Reference no. ESMT-411-0117-1
Compact case
Published by:
ESMT European School of Management and Technology (2011)
Version:
24 February 2011
Length:
4 pages
Data source:
Published sources

Abstract

This is the first of a three-case series (ESMT-411-0117-1 to ESMT-411-0119-1). The three-part case study ''Mr KLM'' recounts the story of the world''s deadliest plane accident: the crash of two Boeing 747 aircraft at Tenerife in 1977. The case describes both the actual events leading up to the disaster as well as the main character and the case protagonist, KLM Captain Jacob ''Jaap'' Veldhuyzen van Zanten, to account for the fact that there had actually been two crashes that day: the airplane crash and the crash of ''Mr KLM,'' Jacob Veldhuyzen van Zanten. The case illustrates the paradigm of a homo rationale who, in an unusual situation, seems to throw aboard principles of rationality while reverting to decisions and behaviors best understood in the light of intuitive, unreflected, biased, or irrational decision making. The case serves as an illustration of findings and principles of social psychology, irrational decision theory, and behavioral economics.

Topics

Social psychology; Behavioral economics; Decision making; Irrationality; Value attribution bias; Loss aversion; Diagnosis bias/filtering; Intuition; Employment; Filtering; Crash; KLM
Location:
Industry:
Other setting(s):
1977

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