Complexity theory: a science where historical accidents matter

Abstract

Purpose

To follow the modern movement of using “positive feedback” to explain companies' behaviour with special focus on historical accidents.

Design/methodology/approach

To contribute to the emergence of new complexity theory as applied to management and prove that historical accidents matter, combining and bringing together literature sources.

Findings

The concept of unique equilibrium has been seriously disputed – the selection process is shown, as is the path dependent process using probability theory.

Practical implications

A location theory as case study is outlined – great for those fond of unique equilibrium.

Originality/value

To show another theory, which is dynamic, non‐linear, and complex as reality; to apply it to management underlying at the same time the role of historical accidents (random process).

Citation

Goulielmos, A.M. (2005), "Complexity theory: a science where historical accidents matter", Disaster Prevention and Management, Vol. 14 No. 4, pp. 533-547. https://doi.org/10.1108/09653560510618366