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What relationship exists if any between information and decision-making?
Wiki User
∙ 13y ago
to make a decision means that you commit yourself to a course of action
but before you made this very decision - and this happens most of the times - you had a choice of alternative actions
each of this alternatives has a potential to take you somewhere (result in something), however you do not know that, or are not sure of that, or know nothing about that.. etc
(for, if you knew, you would be sure that this one decision is the best one, and in that case that would not be a decision at all, but JUST DO IT!)
but rarely you are, so you are happy if you can gain more information about the whole thing so that you can value the outcomes, but also the costs/efforts
in order to get information you usually have to pay for it - in money, sweat or tears, so you also have to be sure that what you pay for information (in order to improve your decision) is really worth it
you can say that (right and economic) information has a potential to improve your decision - to rise the chances that it was the right one
Wiki User
∙ 13y ago
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