Accession Number:

AD0604156

Title:

THE INFLUENCE OF ENVIROMENTAL NONSTATIONARITY IN A SEQUENTIAL DECISION-MAKING EXPERIMENT

Descriptive Note:

Corporate Author:

RAND CORP SANTA MONICA CA

Personal Author(s):

Report Date:

1952-11-17

Pagination or Media Count:

35.0

Abstract:

A study was made on a series of pilot experiments, and on their theoretical background, that investigated the effect on human decision-making of a belief that the environment is changing when in reality it is constant. The results suggest that subjects tend to search more among poorer alternatives when they believe that the situation is changeable, and in conformity with mathematical models suggested by W. K. Estes and R. R. Bush to describe the two types of decision-making behavior.

Subject Categories:

  • Operations Research

Distribution Statement:

APPROVED FOR PUBLIC RELEASE