Related papers: A Quantum-like Model of Selection Behavior
We consider the following model of decision-making by cognitive systems. We present an algorithm -- quantum-like representation algorithm (QLRA) -- which provides a possibility to represent probabilistic data of any origin by complex…
An approach is presented treating decision theory as a probabilistic theory based on quantum techniques. Accurate definitions are given and thorough analysis is accomplished for the quantum probabilities describing the choice between…
The Machina thought experiments pose to major non-expected utility models challenges that are similar to those posed by the Ellsberg thought experiments to subjective expected utility theory (SEUT). We test human choices in the `Ellsberg…
We demonstrate that behavioral probabilities of human decision makers share many common features with quantum probabilities. This does not imply that humans are some quantum objects, but just shows that the mathematics of quantum theory is…
We investigate how the choice of decision makers can be varied under the presence of risk and uncertainty. Our analysis is based on the approach we have previously applied to individual decision makers, which we now generalize to the case…
Expected utility theory (EUT) is widely used in economic theory. However, its subjective probability formulation, first elaborated by Savage, is linked to Ellsberg-like paradoxes and ambiguity aversion. This has led various scholars to work…
Ambiguity and ambiguity aversion have been widely studied in decision theory and economics both at a theoretical and an experimental level. After Ellsberg's seminal studies challenging subjective expected utility theory (SEUT), several…
We present a general theory of quantum information processing devices, that can be applied to human decision makers, to atomic multimode registers, or to molecular high-spin registers. Our quantum decision theory is a generalization of the…
We present a quantum-like (QL) model in that contexts (complexes of e.g. mental, social, biological, economic or even political conditions) are represented by complex probability amplitudes. This approach gives the possibility to apply the…
We present the first calibration of quantum decision theory (QDT) to a dataset of binary risky choice. We quantitatively account for the fraction of choice reversals between two repetitions of the experiment, using a probabilistic choice…
Various effects in human cognition, often considered `non-classical', have been argued to be most naturally modelled by quantum-like models of decision making. We extend this approach to describe models of cognition and decision-making in…
Quantum-like modeling (QLM) - quantum theory applications outside of physics - are intensively developed with applications in biology, cognition, psychology, and decision-making. For cognition, QLM should be distinguished from quantum…
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…
The aim of this paper is to apply a contextual probabilistic model (in the spirit of Mackey, Gudder, Ballentine) to represent and to generalize some results of quantum logic about possible macroscopic quantum-like (QL) behaviour. The…
Quantum Decision Theory, advanced earlier by the authors, and illustrated for lotteries with gains, is generalized to the games containing lotteries with gains as well as losses. The mathematical structure of the approach is based on the…
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…
Quantum decision theory (QDT) is a recently developed theory of decision making based on the mathematics of Hilbert spaces, a framework known in physics for its application to quantum mechanics. This framework formalizes the concept of…
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…
{\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…
We present a contextualist statistical realistic model for quantum-like representations in physics, cognitive science and psychology. We apply this model to describe cognitive experiments to check quantum-like structures of mental…