The study of Dynamic Decision Making (DDM) has contributed to our understanding of the behavior of decision makers in the dynamic decision making environment. This article attempts to apply the findings of the previous DDM research to the monetary decision making at the Federal Reserve Board. The monetary policy is a typical example of the DDM. By analyzing the Federal Open Market Committee (FOMC) meeting transcripts, the decision making environment and behavior of the FOMC will be identified. The FOMC members face unfavorable decision making environment that corresponds with the DDM findings, but it is also revealed that they were able to develop ways to overcome the difficulties. This article also suggests possibilities of future DDM study and application of DDM prescriptions to the FOMC decision making.

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Date created

• 2006 July 23-2006 July 27

Type

• Document

Processing Activity

• Processing documentation available at: https://wiki.albany.edu/display/SCA/Processing+Ingested+Digital+Files

License

• Creative Commons BY-NC-ND Attribution-NonCommercial-NoDerivs 4.0 International

  
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ITEM CONTEXT

Part of

32937c7b43e3e015509bb71fd40d2054

Scope and Contents

Part of

23d738ba88f8333bc39725f9cb5bd0b8

Scope and Contents

Part of

f9377a3ac7b50b1fca5e04fb6d679ec2

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Collection

System Dynamic Society Records

Scope and Contents

Collecting area

• This collection is part of the University Archives