In Search of Theories of Dynamic Decision Making: A Literature Review

The current literature review investigates the literature of dynamic decision making. Based on the 33 empirical studies published from 1978 to 1997, the study provides five categories for grouping the dependent variables: task performance, learning, efforts for decision making, quality of decision-making process, and decision-making architecture. 24 predictors have also been conceptualized in three categories: decision makers ' factors, task complexity, and decision-making interfaces and environments. Overall speaking, the research has not been able to find any single explanatory indicator of decision-makers ' cognitive / learning style. Predictors related to task complexity have been mostly significant effects on task performance and verbalizable knowledge. Finally, most of the predictors related to decision-making interfaces and environments are still controversial as the decision aids for dynamic decision behavior. Theoretical foundations of expertise, task complexity, mental model, and information feedback have also been discussed to shed light on the future research directions