Related papers: Risk, ambiguity and quantum decision theory
Ambiguity and ambiguity aversion have been widely studied in decision theory and economics both at a theoretical and an experimental level. After Ellsberg's seminal studies challenging subjective expected utility theory (SEUT), several…
Quantum decision theory (QDT) is a recently developed theory of decision making based on the mathematics of Hilbert spaces, a framework known in physics for its application to quantum mechanics. This framework formalizes the concept of…
There exist dozens of interpretations of quantum theory, but they do not seem to contribute much to understanding the theory. This paper attempts to clarify some issues that are discussed in those interpretations. The main keywords are:…
Quantum cognition in decision-making is a recent and rapidely growing field. In this paper we develop an expected utility theory in a context of non-classical (quantum) uncertainty. We replace the classical state space with a Hilbert space…
Classical probability theory supports probability measures, assigning a fixed positive real value to each event, these measures are far from satisfactory in formulating real-life occurrences. The main innovation of this paper is the…
The expected utility hypothesis is a popular concept in economics that is useful for making decisions when the payoff is uncertain. In this paper, we investigate the implications of a fluctuation theorem in the theory of expected utility.…
In the Bayesian approach to probability theory, probability quantifies a degree of belief for a single trial, without any a priori connection to limiting frequencies. In this paper we show that, despite being prescribed by a fundamental…
This paper presents a novel explanation of the cause of quantum probabilities and the Born rule based on the intuitionistic interpretation of quantum mechanics where propositions obey constructive (intuitionistic) logic. The use of…
The theory of probability and the quantum theory, the one mathematical and the other physical, are related in that each admits a number of very different interpretations. It has been proposed that the conceptual problems of the quantum…
It is the focus of this work to extend and study the previously proposed quantum-like Bayesian networks to deal with decision-making scenarios by incorporating the notion of maximum expected utility in influence diagrams. The general idea…
One cannot justifiably presuppose the physical salience of structures derived via decoherence theory based upon an entirely uninterpreted use of the quantum formalism. Non-probabilistic accounts of the emergence of probability via…
A classical portfolio theory deals with finding the optimal proportion in which an agent invests a wealth in a risk-free asset and a probabilistic risky asset. Formulating and solving the problem depend on how the risk is represented and…
Interpretation of the nonclassical total probability formula arising in some quantum experiments is provided based on stochastic models described by means of a sequence of random vectors changing in the measurement procedures.
Classical probability theory is based on assumptions which are often violated in practice. Therefore quantum probability is a proposed alternative not only in quantum physics, but also in other sciences. However, so far it mostly criticizes…
Deutsch has recently (in quant-ph/9906015) offered a justification, based only on the non-probabilistic axioms of quantum theory and of classical decision theory, for the use of the standard quantum probability rules. In this note, this…
Theory of quantum measurements is often classified as decision theory. An event in decision theory corresponds to the measurement of an observable. This analogy looks clear for operationally testable simple events. However, the situation is…
The decoherent (consistent) histories formalism has been proposed as a means of eliminating measurements as a fundamental concept in quantum mechanics. In this formalism, probabilities can be assigned to any description which satisfies a…
"Ever since the advent of modern quantum mechanics in the late 1920's, the idea has been prevalent that the classical laws of probability cease, in some sense, to be valid in the new theory. [...] The primary object of this presentation is…
We study transformations of conventional (`classical') probabilities induced by context transitions. It is demonstrated that the transition from one complex of conditions to another induces a perturbation of the classical rule for the…
We provide here a general mathematical framework to model attitudes towards ambiguity which uses the formalism of quantum theory as a ``purely mathematical formalism, detached from any physical interpretation''. We show that the…