'I couldn't have known': Accountability, foreseeability and counterfactualdenials of responsibility

This article explores situational determinants and psychological consequenc es of 'counterfactual excuse-making'- denying responsibility by declaring ' I couldn't hare known...', Participants who were made accountable for a sto ck investment decision that resulted in an outcome caused by unforeseeable circumstances were particularly likely to generate counterfactual excuses a nd, as a result, to deny responsibility for the outcome of their choices an d minimize their perceptions of control over the decision process. The arti cle discusses the implications of these findings for structuring accountabi lity reporting relationships in business and, more generally, stresses the benefits of counterfactual denials of responsibility for maintaining self-e steem and a desired self-identity.