Why do people make decisions with incomplete information?

Question

Quizplus · Accepted Answer

Obtaining complete information can be time-consuming and costly. In some cases, people may not have the resources necessary to gather all the information they need to make a decision, or they may not have enough time to do so. In such situations, people may be forced to make decisions based on incomplete information. While this increases the risk associated with the decision, it is often the only option available.

Why Do People Make Decisions with Incomplete Information