Simulation Models of Human Decision-Making Processes

Nina Rizun () and Yurii Taranenko ()
Additional contact information
Nina Rizun: Alfred Nobel University, Dnipropetrovsk, Ukraine
Yurii Taranenko: Alfred Nobel University, Dnipropetrovsk, Ukraine

Management Dynamics in the Knowledge Economy, 2014, vol. 2, issue 5, 241-264

Abstract: The main purpose of the paper is the presentation of the new concept of human decision-making process modelling using an analogy with the Automatic Control Theory. From the authors' point of view this concept allows to develop and improve the theory of decision-making in terms of the study and the classification of specificity of the human intellectual processes in different conditions. Literature shows that the main distinguishing feature between the Heuristic / Intuitive and Rational Decision-Making Models is the presence of so-called phenomenon of “enrichment” of the input information with human propensity, hobbies, tendencies, expectations, axioms and judgments, presumptions or bias and their justification. In order to obtain additional knowledge about the basic intellectual processes, as well as the possibility of modelling the decision results in various parameters characterizing the decision-maker, a complex of simulation models was developed. These models are based on the assumptions that: basic intellectual processes of the Rational Decision-Making Model can be adequately simulated and identified by the transient processes of the proportional-integral-derivative controller; basic intellectual processes of the Bounded Rationality and Intuitive Models can be adequately simulated and identified by the transient processes of the nonlinear elements. The taxonomy of the most typical automatic control theory elements and their compliance with certain decision-making models with a point of view of decision-making process specificity and decision-maker behavior during a certain time of professional activity was obtained.

Keywords: human decision-making process; automatic control theory; proportional-integral-derivative controller; nonlinear elements. (search for similar items in EconPapers)
Date: 2014
References: Add references at CitEc
Citations:

Downloads: (external link)
http://managementdynamics.ro/index.php/journal/article/view/59/46 (application/pdf)
http://managementdynamics.ro/index.php/journal/article/view/59/46 (text/html)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:nup:jrmdke:v:2:y:2014:i:5:p:241-264

Access Statistics for this article

Management Dynamics in the Knowledge Economy is currently edited by Contantin BRATIANU, Florina PINZARU, Elena Madalina VATAMANESCU and Alexandra ZBUCHEA

More articles in Management Dynamics in the Knowledge Economy from College of Management, National University of Political Studies and Public Administration Contact information at EDIRC.
Bibliographic data for series maintained by Cristian-Mihai VIDU ().