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A Dynamic Theory of Decision Processes

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Dynamic Decision Theory

Part of the book series: Studies in Operational Regional Science ((SORS,volume 6))

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Abstract

Over the past years, the use of disaggregate choice models has been strongly advocated (see Golledge and Timmermans,1 Ben-Akiva and Lerman,2 Bahrenberg, Fischer and Nijkamp,3 Pitfield,4 Johnson and Hensher5), for by using such models it is possible to capture stochastic and behavioural aspects of decision processes. New insights into decision-making and choice behaviour processes may be obtained by modelling at the level of individual actors in a system. For example a spatial system in which the actors are consumers or suppliers of activities such as migrants, travellers, property developers or local government decision-makers. Therefore, considerable efforts have been devoted to the development of behavioural spatial choice models capable of considering individual choices from a set of discrete alternatives at.a point in time. With very few exceptions the emphasis on such discrete choice models has been strictly cross-sectional even if the choice processes studied were inherently dynamic in nature.

While the individual man is an insoluble puzzle, in the aggregate he becomes a mathematical certainty. You can, for example, never fore- tell what any one man will do, but you can say with precision what an average number will be up to. Individuals vary, but percentages remain constant.

Sir A.C.Doyle

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© 1989 Kluwer Academic Publishers

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Haag, G. (1989). A Dynamic Theory of Decision Processes. In: Dynamic Decision Theory. Studies in Operational Regional Science, vol 6. Springer, Dordrecht. https://doi.org/10.1007/978-94-009-0939-7_2

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  • DOI: https://doi.org/10.1007/978-94-009-0939-7_2

  • Publisher Name: Springer, Dordrecht

  • Print ISBN: 978-94-010-6912-0

  • Online ISBN: 978-94-009-0939-7

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