Related papers: Identifying Quantum Structures in the Ellsberg Par…
Despite the impressive success of quantum structures to model long-standing human judgement and decision puzzles, the {\it quantum cognition research programme} still faces challenges about its explanatory power. Indeed, quantum models…
The 'expected utility hypothesis' and 'Savage's Sure-Thing Principle' are violated in real life decisions, as shown by the 'Allais' and 'Ellsberg paradoxes'. The popular explanation in terms of 'ambiguity aversion' is not completely…
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…
In this article we propose an approach that models the truth behavior of cognitive entities (i.e. sets of connected propositions) by taking into account in a very explicit way the possible influence of the cognitive person (the one that…
The Ellsberg and Machina paradoxes reveal that expected utility theory is problematical when real subjects take decisions under uncertainty. Suitable generalizations of expected utility exist which attempt to solve the Ellsberg paradox, but…
Uncertainty in economics still poses some fundamental problems illustrated, e.g., by the Allais and Ellsberg paradoxes. To overcome these difficulties, economists have introduced an interesting distinction between 'risk' and 'ambiguity'…
The Allais and Ellsberg paradoxes show that the expected utility hypothesis and Savage's Sure-Thing Principle are violated in real life decisions. The popular explanation in terms of 'ambiguity aversion' is not completely accepted. On the…
The applications of techniques from statistical (and classical) mechanics to model interesting problems in economics and finance has produced valuable results. The principal movement which has steered this research direction is known under…
The 'expected utility hypothesis' is one of the foundations of classical approaches to economics and decision theory and Savage's 'Sure-Thing Principle' is a fundamental element of it. It has been put forward that real-life situations…
We explain the quantum structure as due to the presence of two effects, (a) a real change of state of the entity under influence of the measurement and, (b) a lack of knowledge about a deeper deterministic reality of the measurement…
The broader scope of our investigations is the search for the way in which concepts and their combinations carry and influence meaning and what this implies for human thought. More specifically, we examine the use of the mathematical…
The 1961 Ellsberg paradox is typically seen as an empirical challenge to the subjective expected utility framework. Experiments based on Ellsberg's design have spawned a variety of new approaches, culminating in a new paradigm represented…
{\it Ellsberg thought experiments} and empirical confirmation of Ellsberg preferences pose serious challenges to {\it subjective expected utility theory} (SEUT). We have recently elaborated a quantum-theoretic framework for human decisions…
This paper addresses the question why quantum mechanics is formulated in a unitary Hilbert space, i.e. in a manifestly complex setting. Investigating the linear dynamics of real quantum theory in a finite-dimensional Euclidean Hilbert space…
We constructed a Hilbert space representation of a contextual Kolmogorov model. This representation is based on two fundamental observables -- in the standard quantum model these are position and momentum observables. This representation…
We compare the classical Kolmogorov and quantum probability models. We show that the gap between these model is not so huge as it was commonly believed. The main structures of quantum theory (interference of probabilities, Born's rule,…
Experiments in cognitive science and decision theory show that the ways in which people combine concepts and make decisions cannot be described by classical logic and probability theory. This has serious implications for applied disciplines…
In this paper, we propose an interpretation of the Hilbert space method used in quantum theory in the context of decision making under uncertainty. For a clear comparison we will stay as close as possible to the framework of SEU suggested…
In the hidden measurement formalism that we develop in Brussels we explain the quantum structure as due to the presence of two effects, (a) a real change of state of the system under influence of the measurement and, (b) a lack of knowledge…
If quantum gravity respects the principles of quantum mechanics, suitably generalized, it may be that a more viable approach to the theory is through identifying the relevant quantum structures rather than by quantizing classical spacetime.…