Psychological factors in resource allocation. Public
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A conceptual and historical overview of theories on resource allocation is followed by the construction of a system dynamics model that includes heuristics from psychological research. Heuristics affecting decision making appear to be the most relevant concepts from social psychology for the construction of decision mechanism for people sharing resources. The article provides a basis for future development of decision strategy based on empirical findings in psychology. The developed system dynamics model utilizes heuristics, successfully producing expected patterns of behavior.
- This report represents the work of one or more WPI undergraduate students submitted to the faculty as evidence of completion of a degree requirement. WPI routinely publishes these reports on its website without editorial or peer review.
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