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Why Western Digital Firms Have Failed in China

Harvard Business Review

However, they have all failed in China, the world’s largest digital market. Google, for example, has succeeded in dominating many foreign markets that have radically different political systems and cultures (including Indonesia, Thailand, and Saudi Arabia). market on China. market on China.

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Why Companies Are Betting Against Big Ideas

Harvard Business Review

This idea of prospect theory, developed by Tversky and Kahneman and reported in a classic 1979 article (for which the Nobel prize was awarded) demonstrated that individuals do not make decisions rationally by selecting options with the highest expected value, because they are risk-averse and 'losses loom larger than gains.'.