Decision making in uncertainty
Why is it time to start using the right techniques to make decisions due to the uncertainty of COVID-19?
Decision makers are passing an unusual period, when techniques that used to help them in making decisions are not fully adequate anymore. Uncertainty (due to COVID-19) has changed the stage and requires different techniques. This relatively high uncertainty comes on top of already existing cognitive biases which were (unconsciously) effecting individual or group decisions.
This paper reviews a number of techniques useful for decision making in uncertainty and reminds three (out of several) cognitive biases, to help decision makers making more accurate decisions.
In this whitepaper we discuss the following topics:
A. IntroductionB. Techniques for decision making in uncertainty
C. Cognitive Biases
D. Conclusions
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