Analyzing the Alternatives in Terms of Values and Uncertainty

As Chapter 6 discussed, a key task is to recognize you have a decision and to frame it properly in terms of alternatives, values (either qualitatively or quantitatively defined), and information. It is often a very difficult task to evaluate the alternatives in light of the values and the limited information available in order to arrive at a proper selection of the “best” alternative given the current situation; remember the difference between the good decision and the good outcome—good decisions do not necessarily ensure good outcomes. Recognizing and framing the decision are part, but only part, of a good decision. You must take the next step, shown in Figure 8-1, and conduct ...

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