Journal of Dynamic Decision Making

About the Journal

The Journal of Dynamic Decision Making (JDDM) offers a peer-reviewed interdisciplinary open-access publication outlet for research on cognitive and behavioral processes involved in dynamic decision making. It is free of charge for both authors and readers. Contributions are expected primarily from the field of psychology but also from other disciplines like economics, philosophy, cognitive science, or system dynamics. Please refer to our Focus and Scope as well as our Author Guidelines, if you are interested in making a contribution to JDDM. For further information you may also refer to our first Editorial Statement.

 

Recent Articles

Jason Harman, Claudia Gonzalez-Valejjo, Jeffrey B. Vancouver
The sunk cost fallacy is a well-established phenomenon where decision makers continue to commit resources, or escalate commitment, because of previously committed efforts, even when they have knowledge that their returns will not outweigh their investment. Most research on the sunk cost fallacy is done using hypothetical scenarios where participants make a single decision to continue with a project or to abandon it. This paradigm has several limitations and has resulted in a relatively limited understanding sunk cost behavior. To address some of these limitations, we created a dynamic repeated choice paradigm where sunk costs are learned over time and opportunity costs are explicit. Over three experiments we show that the sunk cost fallacy depends on the relative a priori importance of the goal being invested in. We observed escalation of commitment only when the sunk cost domain is more important than alternatives (explicit opportunity costs), and participants showed de-escalation of commitment to the sunk costs domain otherwise.
 
Adapt or Exchange: Making changes within or between contexts in a modular plant scenario
Romy Müller, Leon Urbas
Most psychological studies investigating the balance between stability and flexibility in decision making use specific restrictions in their scenarios. These restrictions are likely to affect decision process, and it is unclear which of the findings can be transferred to more naturalistic decision contexts that call for a balance between stability and flexibility. Therefore, the present study used a scenario that is inspired by the problem structure found in a particular domain: Adapt/Exchange decisions in modular chemical plants. In this setting, we investigated whether participants engage in a thorough comparison of options and whether they perseverate on their previous choices when decision sequences increasingly favour one or the other option. The results ... (more)
JDDM doi: 10.11588/jddm.2020.1.69326
 
On the future of complex problem solving: Seven questions, many answers?
Wolfgang Schoppek, Andreas Fischer, Joachim Funke, Daniel Holt
While research on complex problem solving (CPS) has reached a stage where certain standards have been achieved, the future development is quite ambiguous. Therefore, we were interested in the views of representative authors about the attainments and the future development of that field. We asked the authors to share their point of view with respect to seven questions about the relevance of (complex) problem solving as a research area, about the contribution of laboratory-based CPS research to solving real life problems, about the roles of knowledge, strategies, and intuition in CPS, and about the existence of expertise in CPS. (more)
JDDM doi: 10.11588/jddm.2019.1.69294
 
Dynamic MouselabWEB: Individualized Information Display Matrixes
Zeliha Yıldırım, Semra Erpolat Taşabat
This paper introduces Dynamic MouselabWEB, a computerized process tracing tool that was designed to create flexible decision-making settings that are similar to real life. While Dynamic MouselabWEB is an extension of MouselabWEB, it differs in that it creates individualized information display matrixes (IDMs) rather than presenting predetermined IDMs, so participants decide on the attributes and alternatives before the decision task. This structure can improve the involvement of decision-makers in the decision process and it gives researchers a chance to observe decision-making behaviors and to explore new decision-making strategies when the decision task has only the decision-makers’ important attributes and appealing alternatives. In order to measure the effect of this dynamic structure, two groups of students worked on job selection tasks. ... (more)
JDDM doi: 10.11588/jddm.2019.1.63149
 
Medha Kumar, Varun Dutt
Behaviour change via monetary investments is a way to fighting climate change. Prior research has investigated the role of climate-change investments using a Collective-Risk-Social-Dilemma (CRSD) game, where players have to collectively reach a target by contributing to a climate fund; failing which they lose their investments with a probability. However, little is known on how variability in the availability of information about players’ investments influences investment decisions in CRSD. In an experiment involving CRSD, 480 participants were randomly assigned to different conditions that differed in the availability of investment information among players. Half of the players possessed a higher starting endowment (rich) compared to other players (poor). Results revealed that investments against climate change were higher when investment information was available to all players compared to when this information was available only to a few players or to no one. ... (more)
JDDM doi: 10.11588/jddm.2019.1.57360
 

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