Good & bad decisions

Continuing on my hunt for a good understanding of decision making.... 

What is classified as a good decision versus a bad decision? 
Characteristics of a good decision:
1) Good decisions are objective. 
2) Good decisions are made in the without haste, stress and anxiety 
3) Good decisions are made after getting full information
4) Good decisions are in alignment with our goals and values
5) Good decisions takes into perspective the long-term impact

Characteristics of a bad decision:
1) A Bad decision is not consistent and will result in different results each time it is implemented or by each person who implements it. 
2) A bad decision is made in a hurry and without all the facts.
3) A bad decision is based on old habits/outcomes
4) A bad decision made by emotional bias 

Why do we make bad decisions:
1. Decision Fatigue
2. Being distracted or multi-tasking during contemplation
3. Not getting the full picture of the issue and possible options
4. Being biased/emotional rather than objective about the situation
5. Being stuck in analysis/paralysis - indecisive.

I do want to challenge one thing. I don't think that we will ever be in a position of having full information 

I think we have to make do with limited information and yet still being able to make good decisions
2021-01-06 03:01:59
I was already going to make the same comment as Sir Abe before I saw his comment. I agree that we rarely have most of the information much less full information when making decisions. And some decisions need to be made fast and loose, so I wonder if there needs to be a categorization of the types of decisions and strategies for each type.
2021-01-07 00:12:52
Yes - I have to agree with that challenge. 
If we have limited information, then it makes sense to use what we have. I think what the books/articles I am reading mean to say is - try to get as much information as possible. Particularly about the things that could impact the decision we select. 
2021-01-07 01:04:42