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What is Dynamic Decision Making

Encyclopedia of Information Science and Technology, Fourth Edition
Decision making under uncertainty in a changing environment where the consequences of the earlier decisions and actions affect to the present decisions.
Published in Chapter:
Decision Filed Theory
Lan Shao (University of Oulu, Finland) and Jouni Markkula (University of Oulu, Finland)
Copyright: © 2018 |Pages: 13
DOI: 10.4018/978-1-5225-2255-3.ch183
Abstract
Human decision making theories and formal models are increasingly used for developing advanced ICT based intelligent systems and services. Decision Filed Theory (DFT) is one of the decision making theories that has significant potential for practical applications in real-world decision making situations. Successful empirical studied have shown that DFT theory is able to explain human decision making behaviour in real situations and the model can be applied as a basis for ICT system and service design. In this article, we present the results of a Systematic Literature Review that we conducted for analysing and synthesizing the evidence of DFT development and its validated usage in different application areas. The results show that the interest in DFT and its applications has grown strongly during the last years. The basic model has been extended to cover more complex decision making situations and its applications have been widening.
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Decision Filed Theory
Decision making under uncertainty in a changing environment where the consequences of the earlier decisions and actions affect to the present decisions.
Full Text Chapter Download: US $37.50 Add to Cart
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