Decisions, Commitments and Real Options — Jabe Bloom

When we look at the rela­tion­ship between deci­sions, options and infor­ma­tion, the most obvi­ous rela­tion­ship is that good, rel­e­vant infor­ma­tion helps us choose between options, pro­duc­ing good deci­sions. How­ev­er, when we exam­ine infor­ma­tion and our process­es it quick­ly becomes clear that we don’t always have imme­di­ate access to the infor­ma­tion we need, it may not even exist yet, or we may not have access to experts that can decode and inter­pret the infor­ma­tion, mak­ing it tractable to our deci­sions. Infor­ma­tion, knowl­edge and exper­tise is cre­at­ed, arrives and becomes use­ful over time.