Dynamic Decision Making

Jared M. Hotaling, Pegah Fakhari, Jerome R. Busemeyer

Research output: Chapter in Book/Report/Conference proceedingEntry for encyclopedia/dictionary

Abstract

This section reviews a specialty within the field of decision making known as dynamic decision making. Dynamic decisions are characterized by a decision maker choosing among various actions at different points in time in order to control and optimize performance of a dynamic stochastic system. Realistic examples include fighting fires, navigational control, battlefield decisions, medical emergencies, and so on. The section has four parts. The first reviews basic theory concerning optimal decision principles in a dynamic context, the second summarizes empirical approaches to the study of human performance on dynamic decision tasks, the third presents theoretical models that describe how humans learn to control dynamic systems, and the last discusses methodological issues arising from the study of complex decisions including differences between field versus laboratory research.

Original languageEnglish (US)
Title of host publicationInternational Encyclopedia of the Social & Behavioral Sciences
EditorsJames D Wright
PublisherElsevier Inc.
Pages708-713
Number of pages6
Edition2
ISBN (Electronic)9780080970875
ISBN (Print)9780080970868
DOIs
StatePublished - Mar 26 2015
Externally publishedYes

Keywords

  • Control theory
  • Dynamic decision making
  • Dynamic systems
  • Learning
  • Problem solving

ASJC Scopus subject areas

  • Social Sciences(all)

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  • Cite this

    Hotaling, J. M., Fakhari, P., & Busemeyer, J. R. (2015). Dynamic Decision Making. In J. D. Wright (Ed.), International Encyclopedia of the Social & Behavioral Sciences (2 ed., pp. 708-713). Elsevier Inc.. https://doi.org/10.1016/B978-0-08-097086-8.43040-0