any certainty what their futuredemand will be.
Moreover, inmany cases, we don't know thepast either. I have had manyexperiences where participantsin a business venture havedisagreed profoundly about thecauses of failure, or success,and so have taken verydifferent lessons from theexperience.
Decisions may be unique (non-repeated).It is hard to draw on pastexperience when something isbeing done for the first time. This does not stop peopletrying, and so decision-makingby metaphor or by anecdote isan important feature of real-world decision-making, mostlyignored by decision theorists.
There may be multiplestakeholders and participantsto the decision.In developing a business planfor a global satellite network,for example, a decision-makerwould need to take account of