Dynamic Choice Theory

Dynamic Choice Theory is a framework that explains how people make decisions over time, considering both current circumstances and future possibilities. It suggests individuals continuously assess available options, anticipate potential outcomes, and update their choices as new information becomes available or situations change. This approach emphasizes that decision-making is an ongoing, flexible process influenced by preferences, environmental factors, and evolving goals, rather than isolated, one-time choices. Essentially, it recognizes that our decisions are dynamic, shaped by a constant interplay between present preferences and future expectations.