Dynamic Influences on Individual Choice Behavior
Marketing Letters, 8:3 (1997): 349-360
12 Pages Posted: 21 Jan 2015
Date Written: January 19, 2015
Research examining the process of individual decision making over time is brieﬂy reviewed. We focus on two major areas of work in choice dynamics: research that has examined how current choices are inﬂuenced by the history of previous choices, and newer work examining how choices may be made to exploit expectations about options available in the future. A central theme of the survey is that if a general understanding of choice dynamics is to emerge, it will come through the development of boundedly-rational models of dynamic problem solving that lie on the interface between economics and psychology.
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