What goes into Action/Decision bias

This article talks about action bias.
What goes into making a decision or taking action ?

In my observation, there’s a complication of certain factors that influence decision making in general. This observation might be biased upon the action used in retrospect, but further additions or discussions are welcome.

The factors necessarily are:
- Convenience
- Speed
- Cost
- Flexibility
- Dependency

An eclectic prioritised method is used unconsciously in our everyday decision making process.
I happened to catch a few triggers. This article is on those triggers
Subjective: This differs from person to person.

Convenience

Convenience influences decision making in a directly proportional manner.

The more convenient an action or a decision appears, the more appealing it sounds. Convenience as a factor follows the path of least resistance.
Human tendency makes way for convenience in the path of least resistance.

Lesser the resistance there exist in the outcome of an action, the more likely it’ll happen.

Speed

Speed influencing decision making is subjective.

In a common man’s world, there are certain tasks that they expect takes a longer duration of time and then certain tasks that they expect consumes a shorter time span. This is relative with respect to action and intent.

At an individual scale, people are generally unable to track and account for a longer period metric. Time is a one way function and without necessary metrics, decision making process becomes much more complicated.

What is measured gets managed.

At a larger scale, time is analysed among competent peers and metrics are drawn appropriately. This shifts the locus on estimations for further future action. At this scale, time is managed as an asset and leans towards making more efficient moves with a longer time frame in retrospect.

Cost

Cost is a multi faucet subjective variable function in our decision making algorithm

People ascertain cost differently. Cost is multi faucet-ish.
People value things differently; demand-supply, availability, liquidity, scarcity, exclusive rights and relative cost being among the many that justify cost.

Availability of talent, skills, infrastructure and time are also factors that can influence or be ascertained with cost.

Cost is subjective among people. It can mean anything to the person/entity.

Cost according to asset transfer, services and experience are among multitude of things that cumulatively result in cost.

Understanding cost in itself is a daunting task, yet it is factored in instinctively.

The idea behind cost acting as a factor being subjective, people tend to act based on their intent bias.

Cost is optimized for a efficient solution.

Too expensive or too cheap are trade offs that won’t go through.
Cost as a factor holds greatest weightage when optimized for an efficient solution. Risk influences a portion of cost in decision making.

Flexibility, risk and dependency are all intrinsic to cost.

They play their own distinctive roles and evict different emotions to cost factor in the decision making process, but are or can be significantly influential based on conditioning or psychological triggers from past history.

Cost signifies a metric for trade offs and is hence largely used as a sole deciding factor in making many decisions. Convenience, speed, flexibility, dependency and so much more can be and more often than not act as inputs into the cost function.

There seldom is a factor that is expressed independently and not in terms of cost. This new independent factor, if exists can act as the deciding factor, default being cost.

Flexibility

Flexibility is factored in as a function of relapse time.

Relapse time is the amount of time that it’d take to undo and make similar, if not significant progress in the road not taken.

Cognitive bias favours lower relapse time, if not lowest in comparison with others subjective to relative cost, as an option.

Flexibility is an ascertained trade off.
Some are more favourable than an other.
Flexibility is subjective to the person.

Cognitive bias and past history play important roles and is subjective.

Dependency

Dependency signifies a catalyst in the process of decision making.

Dependencies either accelerate or decelerate a process.
They are binary.

Dependencies do hold an important position in decision making but is relatively lesser comparatively.Dependencies are generally considered when all other things are in place.

Attitude towards dependencies is often a result of a function between experience, intent and their capabilities, largely summing up to cognitive bias again.

The number of places we encounter cognitive bias making decisions for us as conditioned reflexes reveal underlying workings of our human societal patterns within each hosts acting together as an organism.

As the cells in our body work together for a single person, as do we, as humans towards society, entities or of imaginary constructs.

This is articulated to be an objective essay of my understanding of decision making. Objective comments are welcome.
While this topic is open for debate, censorship and enforcement of idealism isn’t appreciated and invites prejudice.
Thank you