Related papers: A Generalized Probability Framework to Model Econo…
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…
In the present article we use the quantum formalism to describe the process of choice under rational ignorance. We consider as a basic task a question or an issue where the only answers are 0 and 1. We show that under rational ignorance the…
We deliver a call to arms for probabilistic numerical methods: algorithms for numerical tasks, including linear algebra, integration, optimization and solving differential equations, that return uncertainties in their calculations. Such…
A new constructivist approach to modeling in economics and theory of consciousness is proposed. The state of elementary object is defined as a set of its measurable consumer properties. A proprietor's refusal or consent for the offered…
Most scholars maintain that quantum mechanics (QM) is a contextual theory and that quantum probability does not allow an epistemic (ignorance) interpretation. By inquiring possible connections between contextuality and non-classical…
Statistical thermodynamics delivers the probability distribution of the equilibrium state of matter through the constrained maximization of a special functional, entropy. Its elegance and enormous success have led to numerous attempts to…
Quantum computers are not yet up to the task of providing computational advantages for practical stochastic diffusion models commonly used by financial analysts. In this paper we introduce a class of stochastic processes that are both…
We develop and defend the thesis that the Hilbert space formalism of quantum mechanics is a new theory of probability. The theory, like its classical counterpart, consists of an algebra of events, and the probability measures defined on it.…
Prediction in quantum cosmology requires a specification of the universe's quantum dynamics and its quantum state. We expect only a few general features of the universe to be predicted with probabilities near unity conditioned on the…
Human-centered systems of systems such as social networks, Internet of Things, or healthcare systems are growingly becoming major facets of modern life. Realistic models of human behavior in such systems play a significant role in their…
In computational materials science, mechanical properties are typically extracted from simulations by means of analysis routines that seek to mimic their experimental counterparts. However, simulated data often exhibit uncertainties that…
Decisions by humans depend on their estimations given some uncertain sensory data. These decisions can also be influenced by the behavior of others. Here we present a mathematical model to quantify this influence, inviting a further study…
Modal interpretations have the ambition to construe quantum mechanics as an objective, man-independent description of physical reality. Their second leading idea is probabilism: quantum mechanics does not completely fix physical reality but…
Molecular dynamics simulation is now a widespread approach for understanding complex systems on the atomistic scale. It finds applications from physics and chemistry to engineering, life and medical science. In the last decade, the approach…
A central feature of quantum mechanics is the non-commutativity of operators used to describe physical observables. In this article, we present a critical analysis on the role of non-commutativity in quantum theory, focusing on its…
The aim of this paper is to analyze the reconstructability of quantum mechanics from classical conditional probabilities representing measurement outcomes conditioned on measurement choices. We will investigate how the quantum mechanical…
In this paper, we present a unified framework for decision making under uncertainty. Our framework is based on the composite of two risk measures, where the inner risk measure accounts for the risk of decision given the exact distribution…
In this article we look at stochastic processes with uncertain parameters, and consider different ways in which information is obtained when carrying out observations. For example we focus on the case of a the random evolution of a traded…
Economic assessment in environmental science concerns the measurement or valuation of environmental impacts, adaptation, and vulnerability. Integrated assessment modeling is a unifying framework of environmental economics, which attempts to…
Physics is based on probabilities as fundamental entities of a mathematical description. Expectation values of observables are computed according to the classical statistical rule. The overall probability distribution for one world covers…