Related papers: Preference reversal in quantum decision theory
Popularity bias is a well-known issue in recommender systems where few popular items are over-represented in the input data, while majority of other less popular items are under-represented. This disparate representation often leads to bias…
Any scientific attempt to explain consciousness is tasked with reconciling the third person objective perspective of science with our first person subjective experience of the world. A good point of departure is to consider situations in…
Negative information often exerts a disproportionately strong impact on human decision-making, a phenomenon known as the negativity bias. In behavioral economics, this effect is formally captured by Prospect Theory, which posits that losses…
Quantum computers have the potential to provide an advantage for financial pricing problems by the use of quantum estimation. In a broader context, it is reasonable to ask about situations where the market and the assets traded on the…
We show that quantum game theory offers solution to the famous Newcomb's paradox (free will problem). Divine foreknowledge is not necessary for successful completion of the game because quantum theory offers a way to discern human…
Elections involving a very large voter population often lead to outcomes that surprise many. This is particularly important for the elections in which results affect the economy of a sizable population. A better prediction of the true…
The derivation of the quantum retrodictive probability formula involves an error, an ambiguity. The end result is correct because this error appears twice, in such a way as to cancel itself. In addition, however, the usual expression for…
An important question in economics is how people choose between different payments in the future. The classical normative model predicts that a decision maker discounts a later payment relative to an earlier one by an exponential function…
We investigate the power of randomness in the context of a fundamental Bayesian optimal mechanism design problem--a single seller aims to maximize expected revenue by allocating multiple kinds of resources to "unit-demand" agents with…
In random expected utility (Gul and Pesendorfer, 2006), the distribution of preferences is uniquely recoverable from random choice. This paper shows through two examples that such uniqueness fails in general if risk preferences are random…
We present a systematic study of Plurality elections with strategic voters who, in addition to having preferences over election winners, have secondary preferences, which govern their behavior when their vote cannot affect the election…
People often reject offers that are too generous due to the perception of hidden drawbacks referred to as "phantom costs." We hypothesized that this perception and the decision-making vary based on the type of agent making the offer (human…
In this paper we investigate the potential for persuasion arising from the quantum indeterminacy of a decision-maker's beliefs, a feature that has been proposed as a formal expression of well-known cognitive limitations. We focus on a…
We study the utilitarian distortion of social choice mechanisms under the recently proposed learning-augmented framework where some (possibly unreliable) predicted information about the preferences of the agents is given as input. In…
The procedure of tossing quantum coins and dice is described. This case is an important example of a quantum procedure because it presents a typical framework employed in quantum information processing and quantum computing. The emphasis is…
Games involving quantum strategies often yield higher payoff. Here, we study a practical realization of the three-player dilemma game using the superconductivity-based quantum processors provided by IBM Q Experience. We analyze the…
Existing multi-objective reinforcement learning (MORL) algorithms do not account for objectives that arise from players with differing beliefs. Concretely, consider two players with different beliefs and utility functions who may cooperate…
This article presents a new argument against many forms of moral and prudential value incompleteness. The argument relies on two central principles: (i) a weak "negative dominance" principle, to the effect that Lottery 1 is better than…
We report mathematical results on the process by which quantum order by disorder takes place for spin systems. The selection rules follow the influence of several competing contributions. Moreover there is no link between quantum selection…
Behavioural economics provides labels for patterns in human economic behaviour. Probability weighting is one such label. It expresses a mismatch between probabilities used in a formal model of a decision (i.e. model parameters) and…