What are rational approaches in decision making?

Decision behavior should take in consideration few factors to be reasonable:

1-  To not reflect stochastic dominance.

2- To count the relation between choice probability and decision time.

3- To count the priorities related to your choice.

 

Its an approach in which you collect data that has been obtained through observation or statistical analysis and use it as a model in making decisions.

I feel the basic principle of decision making is proper application of 4W + H (What, Which, Why, Who + How). By asking and answering questions that use this formula, one can easily hit the right decision.

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Thanks

I prefer to wait for more answers from colleagues

I would love to second the opinion of Mr. George. 

Thanks for the invitation. I will go with the opinion of Mr.George Ugwunnadi & Mr.Paul Phillip. Seems much better, very practical and reasonable way for making a Decision.

Thank you for the kind invitation ... is the best choice, balancing cost, effort and time, applying basic management principles: efficiency and efficiency

GROUP APPROACHES.1. Consensus decision making2. Voting-based decision making3. Delphi technique4. Participative decision making.5. Decision engineering. INDIVIDUAL APPROACHES1. decisions balance sheet2. Simple priotisation3. Satisficing4. Automated decision making5. Decision support systems. Thanx for the invitation.