Related papers: A Contextual Risk Model for the Ellsberg Paradox
The influence of additional information on the decision making of agents, who are interacting members of a society, is analyzed within the mathematical framework based on the use of quantum probabilities. The introduction of social…
In the present article we consider the conjunction fallacy, a well known cognitive heuristic experimentally tested in cognitive science, which occurs for intuitive judgments in situations of bounded rationality. We show that the quantum…
The semantic paradoxes are associated with self-reference or referential circularity. However, there are infinitary versions of the paradoxes, such as Yablo's paradox, that do not involve this form of circularity. It remains an open…
Decision-making under uncertainty and causal thinking are fundamental aspects of intelligent reasoning. Decision-making has been well studied when the available information is considered at the associative (probabilistic) level. The…
According to a standard view, quantum mechanics (QM) is a contextual theory and quantum probability does not satisfy Kolmogorov's axioms. We show, by considering the macroscopic contexts associated with measurement procedures and the…
Recently, we introduced in arXiv:1105.2434 a model for product adoption in social networks with multiple products, where the agents, influenced by their neighbours, can adopt one out of several alternatives. We identify and analyze here…
There is presented a contextual statistical model of the probabilistic description of physical reality. Here contexts (complexes of physical conditions) are considered as basic elements of reality. There is discussed the relation with QM.…
In this paper, an optimization problem with uncertain constraint coefficients is considered. Possibility theory is used to model the uncertainty. Namely, a joint possibility distribution in constraint coefficient realizations, called…
Natural philosophy integrates scientific observation with abstract frameworks, often using a mathematical Ansatz to hypothesise about physical phenomena. Exploring the possibility of other universes, however, challenges assumptions that…
Results of measurements give legitimacy to a physical theory. What if acquiring these results in the first place necessitates what the same theory considers to be an interaction? In this note, we assume that theories account for…
In his constructive and well-informed commentary, Andrei Khrennikov acknowledges a privileged status of classical probability theory with respect to statistical analysis. He also sees advantages offered by the Contextuality-by-Default…
Cyclic systems of dichotomous random variables have played a prominent role in contextuality research, describing such experimental paradigms as the Klyachko-Can-Binicoglu-Shumovky, Einstein-Podolsky-Rosen-Bell, and Leggett-Garg ones in…
Two notions of nonclassicality that have been investigated intensively are: (i) negativity, that is, the need to posit negative values when representing quantum states by quasiprobability distributions such as the Wigner representation, and…
In quantum logic, i.e., within the structure of the Hilbert lattice imposed on all closed linear subspaces of a Hilbert space, the assignment of truth values to quantum propositions (i.e., experimentally verifiable propositions relating to…
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…
In this paper, we present a paradox arising from the acceptance of the Law of Excluded Middle (LEM) within classical mathematics. Specifically, we construct a nonzero analytic function on a connected open subset of the complex plane whose…
How should a risk-averse newsvendor order optimally under distributional ambiguity? Attempts to extend Scarf's celebrated distribution-free ordering rule using risk measures have led to conflicting prescriptions: CVaR-based models…
We introduce an equilibrium asset pricing model, which we build on the relationship between a novel risk measure, the Expected Downside Risk (EDR) and the expected return. On the one hand, our proposed risk measure uses a nonparametric…
When it isn't possible to tell two distinct experimental procedures apart purely from their input/output statistics, then it seems a plausible hypothesis that the two procedures must be physically identical. We call such a hypothesis…
Many models of economics assume that individuals distort objective probabilities. We propose a simple consistency condition on distortion functions, which we term distortion coherence, that ensures that the function commutes with…