What Is Decision Making Under Uncertainty?
Decision making under uncertainty means choosing when you don't know all outcomes or probabilities. Use probabilistic thinking and scenarios.
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Decision making under uncertainty means choosing when you don't know all outcomes or probabilities. Use probabilistic thinking and scenarios.
Risk has known probabilities; uncertainty doesn't. With risk you can calculate odds, with uncertainty you can't even assign probabilities to outcomes.
Probabilistic thinking means thinking in likelihoods rather than absolutes. Assign probabilities to outcomes to make better decisions under uncertainty.
Leading through uncertainty: Decide with incomplete information, communicate confidence not certainty, admit what you don't know building trust, adapt quickly.
Identify biases like confirmation bias. List assumptions explicitly. Consider alternatives. Define criteria. Test decisions at small scale first.