Question: Decision Analysis Criticized

Edgar W. Howe once said that: "The average man's judgment is so poor, he runs a risk every time he uses it." Most real world problems involve uncertain information. Although uncertainty can be often reduced, it can be seldom eliminated and whether we are dealing with scientific, engineering, or personal problems, we are forced to make decisions that are based on incomplete knowledge. Even a deliberation of whether more information should be collected before making an actual decision is itself a decision under uncertainty.

Since Decision Analysis is based on uncertainty, do you think it is still beneficial for actual use in the real world?  Why or why not?  What type of situations would it be more useful and less useful?

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