Dynamic Decision Behavior: Comments on Rapoport’s Paper

Abstract

Most affairs in the course of every-day-life as well as many experiments in the laboratory may be considered as a series of consecutive situations and decisions. One situation is just the off-spring of the preceding one, the preceding decision, and some noisy event Like in the history of a family where children become parents when they are grown up, in a sequence of interrelated decision stages the output of one period becomes the input of the next following generation. The decisions not only imply immediate consequences they also do have an influence upon the following stages, especially upon the action space of future stages.