The process of choosing between alternatives under conditions of scarcity, uncertainty, and cognitive bias.
Tensions
Essentialism demands radical selectivity (the 90% rule), but we systematically grab the first solution and justify it (Rumelt) and motivated reasoning distorts confidence (Housel). You must decide boldly while knowing your decision-making machinery is biased. Taleb insists decisions require skin in the game, yet past investment -- the ultimate skin -- triggers sunk-cost traps.