Decision -Making

Source: Ray Dalio's Book Principles

1. Keep in mind both the rates of change and the levels of things, and the relationships between them. 2. Be imprecise. 3. Remember the 80/20 Rule and know what the key 20 percent is. 4. Be an imperfectionist. Source: Ray Dalio's

1.Use the terms “above the line” and “below the line” to establish which level a conversation is on. 2. Remember that decisions need to be made at the appropriate level, but they should also be consistent across levels. Source: Ray Dalio's Book

1. One of the most important decisions you can make is who you ask questions of. 2. Don’t believe everything you hear. 3. Everything looks bigger up close. 4. New is overvalued relative to great. 5. Don’t oversqueeze dots. Source: Ray Dalio's

Source: Ray Dalio's Book Principles

"Value of Information (VoI) is a concept from decision analysis: how much answering a question allows a decision-maker to improve its decision. Like opportunity cost, it's easy to define but often hard to internalize; and so instead of belaboring the definition let's

"A decision tree is a decision support tool that uses a tree-like graph or model of decisions and their possible consequences, including chance event outcomes, resource costs, and utility. It is one way to display an algorithm. Decision trees are commonly used

"Spatial choice models originally started by thinking about geographic choice. There's a guy named Harold Hoteling who's an economist who thought about, imagine you're on a beach and there's an ice cream vendor, you know, 50 feet to your left and there's

"Probability is the measure of the likelihood that an event will occur.[1] Probability is quantified as a number between 0 and 1, where, loosely speaking,[2] 0 indicates impossibility and 1 indicates certainty.[3][4] The higher the probability of an event, the more likely

"Multiple-criteria decision-making (MCDM) or multiple-criteria decision analysis (MCDA) is a sub-discipline of operations research that explicitly evaluates multiple conflicting criteria in decision making (both in daily life and in settings such as business, government and medicine). Conflicting criteria are typical in evaluating