Oil scenarios for long-term business planning: Royal Dutch Shell and generative explanation, 1960-2010
AbstractMost executives know that overarching paints of plausible futures will profoundly affect the competitiveness and survival of their organisation. Initially from the perspective of Shell, this article discuses oil scenarios and their relevance for upstream investments. Scenarios are then incorporated into generative explanation and its principal instrument, namely agent-based computational laboratories, as the new standard of explanation of the past and the present and the new way to structure the uncertainties of the future. The key concept is that the future should not be regarded as ‘complicated’ but as ‘complex’, in that there are uncertainties about the driving forces that generate unanticipated futures, which cannot be explored analytically.
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Bibliographic InfoPaper provided by University Library of Munich, Germany in its series MPRA Paper with number 27910.
Date of creation: 05 Jan 2011
Date of revision:
oil scenarios; Shell; ACEGES; agent-based computational economics;
Find related papers by JEL classification:
- C0 - Mathematical and Quantitative Methods - - General
- L1 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance
This paper has been announced in the following NEP Reports:
- NEP-ALL-2011-01-16 (All new papers)
- NEP-CMP-2011-01-16 (Computational Economics)
- NEP-ENE-2011-01-16 (Energy Economics)
- NEP-HIS-2011-01-16 (Business, Economic & Financial History)
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