I could see an argument for locally rational in the same way that no one gets fired for using IBM, but it's usually pretty clear to the lower level employees th

I could see an argument for locally rational in the same way that no one gets fired for using IBM, but it's usually pretty clear to the lower level employees that something isn't right. Middle management and lower level employees all knew the economy was messed up, it's hard for me to conclude that the C*O's don't rationally know the same thing. > You don't gain a competitive from doing that, but you also ensure they don't either. In fact, you may gain a competitive advantage from doing the opposite of the herd if the herd is about to run off a cliff.