Understanding the performance of decision strategies in dynamic environments.

Loading...

View/Download File

Meyer_umn_0130E_13096.pdf (3.07 MB)

Persistent link to this item

https://hdl.handle.net/11299/138310

Statistics

View Statistics

Journal Title

Journal ISSN

Volume Title

Title

Understanding the performance of decision strategies in dynamic environments.

Authors

Meyer, Georg

Published Date

2012-08

Publisher

Type

Thesis or Dissertation

Abstract

A decision strategy is systematic way of choosing among alternatives or eliminating options in order to arrive at a goal. Individuals apply decision strategies in dynamic environments that require repeated decision making where decisions are path-dependent, time-constrained, and the environment changes not only in response to the actions taken by the decision maker but also autonomously. In addition to being used by individual agents, decision strategies are found in organizations in the form of policies, guidelines, and algorithms. This research consists of three studies that apply a process control perspective to dynamic decision making. Study 1 investigates the features of decision strategies that affect performance. It finds that strategies perform well if they possess a strong mental model that accurately represents the decision problem or if they are well adapted to the problem environment. Based on these findings, Study 2 develops a machine learning approach to improve the mental model, and Study 3 develops an evolutionary approach to adapt decision strategies to a given environment. Both approaches are shown to be effective for constructing strategies with greater performance.

Keywords

Decision strategy

Dynamic decision making

Genetic programming

Machine learning

Process control

Simulation

Description

University of Minnesota Ph.D. dissertation. August 2012. Major: Business Administration. Advisors:Paul E. Johnson, Gediminas Adomavicius. 1 computer file (PDF); x, 199 pages, appendices A-B.

Related to

Replaces

License

Collections

Dissertations

Series/Report Number

Funding information

Isbn identifier

Doi identifier

Previously Published Citation

Suggested citation

Meyer, Georg. (2012). Understanding the performance of decision strategies in dynamic environments.. Retrieved from the University Digital Conservancy, https://hdl.handle.net/11299/138310.

Content distributed via the University Digital Conservancy may be subject to additional license and use restrictions applied by the depositor. By using these files, users agree to the Terms of Use. Materials in the UDC may contain content that is disturbing and/or harmful. For more information, please see our statement on harmful content in digital repositories.