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Learning from samples of one or fewer.

March JG; Sproull LS; Tamuz M.

March 6, 2005
March JG; Sproull LS; Tamuz M.

Organizations learn from experience. However, learning from rare events is challenging because experience is limited. The authors cite examples of rare events and outline the strategies that organizations use to learn from these. The authors review two strategies for learning from rare events: one that focuses on experiencing the event more richly and another that attempts to simulate the experience. The authors assess the reliability and validity of these approaches.