Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/106960
Authors: 
Beck, Roman
König, Wolfgang
Pahlke, Immanuel
Wolf, Martin
Year of Publication: 
2013
Series/Report no.: 
SAFE Policy Letter 10
Abstract: 
Although the "financial meltdown" between 2007 and 2009 can be substantially attributed to herding behaviour in the subprime market for credit default swaps, a "mindless" IT implementation of participating financial services providers played a major role in the facilitation of the underlying bandwagon. The problem was a discrepancy between two core complementary capabilities: (1.) the (economic-rationalistic) ability to execute financial transactions (to comply with the herd) in milliseconds and (2.) the required contextualized mindfulness capabilities to comprehend the implications of the transactions being executed and the associated IT innovation decisions that enabled these transactions.
Subjects: 
IT innovations
financial services
Persistent Identifier of the first edition: 
Document Type: 
Research Report

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