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The Pro-Con list

One of the most common ways to approach making a difficult decision is to make up a list of pros and cons that outline what are the good things that can come out of making a decision and what are some adverse consequences. 

This allows us to take a more objective view of the decision we are about to make. 

However, apart from simply listing the pros and cons, this approach needs two additional dimensions. 

Weights and probabilities. 

Maybe there are a lot of pros to making a decision. But if there is just one con that can be devastating if it happened, then this will have a big weight and all the pros won't be enough to sway the decision. 

In addition, if we also knew that this devastating outcome had a very small probability, then that could lead to a different decision. 

Whereas, if a couple of the cons are nearly certain while a lot of the pros are 50:50, that leads to a different decision. 

The pro-con list is a useful way to make important decisions. But only when equipped with all the necessary information, especially the weights and probabilities of the individual pros and cons.

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