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Publisher DOI: 10.1108/JAOC-11-2020-0197
Title: Talking about the likelihood of risks : an agent-based simulation of discussion processes in risk workshops
Language: English
Authors: Harten, Clemens 
Meyer, Matthias 
Bellora-Bienengräber, Lucia 
Keywords: Agent-based modeling;Bayesian networks;Risk assessment;Risk likelihood;Risk workshops;Simulation
Issue Date: 5-Nov-2021
Publisher: Emerald
Source: Journal of Accounting and Organizational Change ahead-of-print (ahead-of-print): - (2021) in press
Journal: Journal of accounting & organizational change 
Abstract (english): 
Purpose: This paper aims to explore drivers of the effectiveness of risk assessments in risk workshops. Design/methodology/approach: This study uses an agent-based model to simulate risk assessments in risk workshops. Combining the notions of transactive memory and the ideal speech situation, this study establishes a risk assessment benchmark and then investigates real-world deviations from this benchmark. Specifically, this study models limits to information transfer, incomplete discussions and potentially detrimental group characteristics, as well as interaction patterns. Findings: First, limits to information transfer among workshop participants can prevent a correct consensus. Second, increasing the required number of stable discussion rounds before an assessment improves the correct assessment of high but not low likelihood risks. Third, while theoretically advantageous group characteristics are associated with the highest assessment correctness for all risks, theoretically detrimental group characteristics are associated with the highest assessment correctness for high likelihood risks. Fourth, prioritizing participants who are particularly concerned about the risk leads to the highest level of correctness. Originality/value: This study shows that by increasing the duration of simulated risk workshops, the assessments change – as a rule – from underestimating to overestimating risks, unraveling a trade-off for risk workshop facilitators. Methodologically, this approach overcomes limitations of prior research, specifically the lack of an assessment and process benchmark, the inability to disentangle multiple effects and the difficulty of capturing individual cognitive processes.
DOI: 10.15480/882.3921
ISSN: 1839-5473
Institute: Controlling und Simulation W-1 
Document Type: Article
License: CC BY 4.0 (Attribution) CC BY 4.0 (Attribution)
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