sequential decision-making
Sequential decision-making is a process where choices are made one after another, with each decision influencing the next. This approach is often used in situations where outcomes depend on previous actions, such as in game theory or business strategy. Each step requires evaluating the current situation and predicting future consequences.
In sequential decision-making, individuals or organizations gather information, weigh options, and consider potential risks and rewards. This method is common in everyday life, like planning a trip, where each decision—such as choosing a destination or booking accommodations—affects subsequent choices and the overall experience.