ADAPTIVE CONTROL THEORY: SURVEY AND POTENTIAL APPLICATIONS TO DECISION PROCESSES*

An important and distinct feature of a class of decision processes discussed in this paper is the possibility of gathering additional information between decisions and using it to improve future decisions. The analysis of these so-called sequential decision processes is both complicated and far-reaching in its implications. The purpose of this paper is to describe this class of decision processes to make its potential both more readily understood and better appreciated.