Related papers: From Ambiguity Aversion to a Generalized Expected …
Quantum theory provides a comprehensive framework for quantifying uncertainty, often applied in quantum finance to explore the stochastic nature of asset returns. This perspective likens returns to microscopic particle motion, governed by…
In many areas of data mining, data is collected from humans beings. In this contribution, we ask the question of how people actually respond to ordinal scales. The main problem observed is that users tend to be volatile in their choices,…
We experimentally study a game in which success requires a sufficient total contribution by members of a group. There are significant uncertainties surrounding the chance and the total effort required for success. A theoretical model with…
We show that quantum state discrimination sits neatly in the framework of Bayesian experimental design. In this setting, the two main branches of quantum state discrimination (minimal error and maximal confidence) simply correspond to two…
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'…
This paper contributes to a burgeoning area of investigation, the ambiguity inherent in mathematics and the implications for physics of this ambiguity. To display the mathematical form of equations of quantum theory used to describe…
When aggregating Subjective Expected Utility preferences, the Pareto principle leads to an impossibility result unless the individuals have a common belief. This paper examines the source of this impossibility in more detail by considering…
We provide foundations for decisions in face of unlikely events by extending the standard framework of Savage to include preferences indexed by a family of events. We derive a subjective lexicographic expected utility representation which…
In the given work the first attempt to generalize quantum uncertainty relation on macro objects is made. Business company as one of economical process participants was chosen by the authors for this purpose. The analogies between quantum…
We propose a quantum-mechanical model that represents a human system of beliefs as quantised energy levels of a physical system. This model underscores a novel perspective on opinion dynamics, recreating a broad range of experimental and…
The problem of quantification of emotions in the choice between alternatives is considered. The alternatives are evaluated in a dual manner. From one side, they are characterized by rational features defining the utility of each…
Different from shopping at retail stores, consumers on e-commerce platforms usually cannot touch or try products before purchasing, which means that they have to make decisions when they are uncertain about the outcome (e.g., satisfaction…
We provide a theoretical framework to understand how widely used measures of choice difficulty relate. In a binary-option Bayesian expected-utility framework, we show that three measures of difficulty, (i) understanding (ex-ante value),…
An overview of the conceptuality interpretation of quantum mechanics is presented, along with an explanation of how it sheds light on key quantum and relativistic phenomena. In particular, we show how the interpretation clarifies…
The usual conjectures of quantum measurements approaches, inspired from the traditional interpretation of Heisenberg's ("uncertainty") relations, are proved as being incorrect. A group of reconsidered conjectures and a corresponding new…
If Uncertainty Quantification (UQ) is crucial to achieve trustworthy Machine Learning (ML), most UQ methods suffer from disparate and inconsistent evaluation protocols. We claim this inconsistency results from the unclear requirements the…
Existing observational approaches for learning human preferences, such as inverse reinforcement learning, usually make strong assumptions about the observability of the human's environment. However, in reality, people make many important…
The role of probability in quantum mechanics is reviewed, with a discussion of the ``orthodox'' versus the statistical interpretive frameworks, and of a number of related issues. After a brief summary of sources of unease with quantum…
The main objective of this paper is to outline a theoretical framework to analyse how humans' decision-making strategies under uncertainty manage the trade-off between information gathering (exploration) and reward seeking (exploitation). A…
Contextuality, the impossibility of assigning a single random variable to represent the outcomes of the same measurement procedure under different experimental conditions, is a central aspect of quantum mechanics. Thus defined, it appears…