Noninstrumental

In summary, I think common extended delays often for other noninstrumental information are part of a more subtle waiting game that it's the job of both the VC and the entrepreneur to know how to play. ❋ Will Price (2007)

The cost is not only delayed decision making but also poor decision making as noninstrumental information impacts the final choice. ❋ Will Price (2007)

Worse yet, once the noninstrumental information is gathered, people alter their choice based on this noninstrumental information. ❋ Will Price (2007)

The paper's thesis is that decision makers often delay decisions to pursue additional noninstrumental information - information that a priori will not affect the decision at hand - yet then proceed to make use of the information, thus making it instrumental, once it is obtained. ❋ Will Price (2007)

The central issue is clearly identify which information is instrumental, "information that can alter what decision is made," versus which information is noninstrumental, "information which will not impact the decision at hand if it were available." ❋ Will Price (2007)

Given people like to obtain information and base their decisions on compelling reasons for one option versus another, research finds that, given the option, people will wait for noninstrumental information. ❋ Will Price (2007)

If a VC, or set of VCs, do not have the sense that they are about to miss out on a deal they want to be part of, then drawing things out possibly under the guise of gathering other information which is noninstrumental is a good way to gather important information. ❋ Will Price (2007)