@inproceedings{VoigtKapmeier2016,
  author    = {Voigt, Erich Alexander and Kapmeier, Florian},
  title     = {A mismatch between aspirations and reality: why are we letting black swans pass us by? An open question about system dynamics and the financial crisis of 2007-2009 : Version 1.2},
  booktitle = {34th International Conference of the System Dynamics Society 2016 : Delft, Netherlands, 17-21 July 2016},
  isbn      = {978-1-5108-3020-2},
  institution = {ESB Business School},
  pages     = {1 -- 14},
  year      = {2016},
  abstract  = {The financial crisis of 2007-2010 was probably one of the greatest, most lustrous black-swan events that people of our generation(s) will experience - and at its heart, it was a dynamic phenomenon. It is stated in the vision of the System Dynamics Society that we aspire to transform society by influencing decision-making. Yet, it seems as if system dynamics did not play any significant role in this crisis: we did not examine the markets, we did not provide insights to banks, and we did not warn governments or the people. In our presentation we describe the dynamics involved in a housing bubble, and describe what made the last one different. With the insights gained from this exercise we conclude that, from a system dynamics perspective, the dimension of the financial crisis of 2007-2009 was eminently foreseeable, which will lead us to pose the following question: where were we as a field while this crisis was unfolding, why were we not active players? We present a range of potential answers to this question, hoping to provoke some reflection… and maybe some (re)action.},
  language  = {en}
}