Multiattribute Decision Making in Context: A Dynamic Neural Network Methodology

Abstract

If a man does not keep pace with his companions, perhaps it is because he hears a different drummer. Let him step to the music which he hears, however measured or far away.

Consideration-set heuristics

“…Many heuristic decision rules have been studied in the marketing literature (e.g., Park 1980a, 1980b;Chu and Spires 2003;Einhorn 1970Einhorn , 1971Fader and McAlister 1990;Fishburn 1974;Frederick (2002), Ganzach and Czaczkes 1995;Allenby 2004, 2006;Hauser 1986;Hauser et al 2010;Jedidi and Kohli 2005;Jedidi, Kohli and DeSarbo 1996;Johnson, Meyer and Ghose 1989;Leven and Levine 1996;Lohse and Johnson 1996;Lussier and Olshavsky 1997;Mela and Lehmann 1995;Moe 2006;Montgomery and Svenson 1976;Nakamura 2002;Payne 1976;Payne, Bettman, and Johnson 1988;Punj and Brookes 2001;Shao 1993;Svenson 1979;Swait 2001;Tversky 1969Tversky , 1972Tversky and Sattath 1979;Tversky and Simonson 1993;Vroomen, Franses and van Nierop 2004;Wright and Barbour 1977;Wu and Rangaswamy 2003;Yee et al 2007). We describe the heuristics that appear to be the most common and are the most likely to affect managerial decisions in product development, advertising, and other communications strategies.…”

Problems for Judgment and Decision Making

“…What are the relationships among the alternative theoretical descriptions, including connectionist-neural computational processing (e.g. Grossberg & Gutowski 1987, Leven & Levine 1996, information processing (symbolic production systems; e.g. Lovett 1998, Payne et al 1993, traditional cognitive algebra (Anderson 1981, Birnbaum 1999, and measurement-theoretical algebra (Luce 2000, Tversky & Kahneman 1992?…”

Computational Models of Decision Making

“…Several artificial neural network or connectionist models have been recently developed for judgment and decision tasks: some placing more emphasis on the neural processing aspects (Grossberg & Gutowski, 1987;Levin & Levine, 1996;Usher & McClelland, 2002), and others placing more emphasis on applications to judgment and decision making (Holyoak & Simon, 1999;Guo and Holyoak, 2002;Busemeyer & Computational Models 6 Townsend, 1993;Roe Busemeyer, & Townsend, 2001). Here we will initially focus on our own, known as decision field theory, but we will also compare this to others later in this chapter.…”