Thursday, April 18, 2013

Additional information often only confuses the decision-making process!

"Rubin’s point is that we must base the vast majority of our decisions on imperfect or incomplete information. But we must still make decisions based on an intelligent appraisal of available information.

Russo and Schoemaker note that we often believe more information provides a clearer picture of the future and improves our decision making. But in reality, additional information often only confuses the decision-making process. "
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