How to best make a optimal decision if you lack complete information?

Question: How to best make a optimal decision if you lack complete information!?
Best Answer - Chosen by Asker:

Complete information is rare (as already stated)!. Most people use whats called 'heuristics' to use as a short cut!. Make a decision on the avaialble information (availabitly heuristic) or make a decision on its similarity to another problem (representativeness heuristic)!.Www@QuestionHome@Com

In any given situation, whether buying a car, or having a baby, or a million other things in life, you never have all the information you think you may need!. However you have to make some decisions and have faith that they will work out!. Some don't, that's how we learn, so next time we have a clearer picture; that way the next time you can make a more informed decision!. And gut feelings do count for a lot too I believe!.Www@QuestionHome@Com

It isnt possible to have complete information in MOST cases!. We must decide with the information at hand!. Weigh the possible outcomes, chose by intelligent decision making methods depending on the situation!. Even the best of information may be flawed!. We all have this problem!. Do the best you can with what you have!.Www@QuestionHome@Com

We never have complete information, so what you are asking is virtually the same for all decisions!. In general how do we make optimal (strange choice of words) decisions!?

In terms of optimal we select the choice that will have the least adverse effect upon us!. But I suspect that optimal was not really the word you wanted and there just be not be a single word that includes all the attributes you want to include!.

As I write this response I am making choices in the reply!. I seek answers that will be, hopefully, the most helpful!. the most concise, yet friendly!. I would do the same for many decisions!.

But I think you are probably beginning to realize now that the thing being decided determines what is best!. The decision determines what is the best way to determine it!.

For example, if the decision were a life or death decision, you would do the best to determine what would perserve the life!.

If the decision were to buy a painting, you would use aesthetic criteria and your own feelings of attachment in making the best choice!.

A decision is a question that answers itself!.Www@QuestionHome@Com

One rarely has complete information!. You just have to judge the probabilities and assess the spectrum of outcomes!.Www@QuestionHome@Com

I use the I-Ching!. Toss three coins at once!. Three heads means Go For It, three tails means No Way and anything else means Don't Make a Decision at This Time!.Www@QuestionHome@Com

Review the information that is available, and base your decision on that!.Www@QuestionHome@Com

By applying a magic method “Heuristic”!.Www@QuestionHome@Com

Look at your information and piece it together!.Www@QuestionHome@Com

try considering the information available!.!.!. pbvWww@QuestionHome@Com

Become completely STILL and ask!Www@QuestionHome@Com

I would say follow your gut!. What else do you have!?Www@QuestionHome@Com

Go with your gut!.Www@QuestionHome@Com