Related papers: A Quantum-like Model of Selection Behavior
We propose an alternative and unifying framework for decision-making that, by using quantum mechanics, provides more generalised cognitive and decision models with the ability to represent more information than classical models. This…
Computer modeling of human decision making is of large importance for, e.g., sustainable transport, urban development, and online recommendation systems. In this paper we present a model for predicting the behavior of an individual during a…
We propose a novel symbolic modeling framework for decision-making under risk that merges interpretability with the core insights of Prospect Theory. Our approach replaces opaque utility curves and probability weighting functions with…
The Quantum Decision Theory, developed recently by the authors, is applied to clarify the role of risk and uncertainty in decision making and in particular in relation to the phenomenon of dynamic inconsistency. By formulating this notion…
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 aim of this review is to highlight the possibility to apply the mathematical formalism and methodology of quantum theory to model behaviour of complex biosystems, from genomes and proteins to animals, humans, ecological and social…
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…
We characterize the class of quantum measurements that matches the applications of quantum theory to cognition (and decision making) - quantum-like modeling. Projective measurements describe the canonical measurements of the basic…
A quantum probability model is introduced and used to explain human probability judgment errors including the conjunction, disjunction, inverse, and conditional fallacies, as well as unpacking effects and partitioning effects. Quantum…
We live in a world brimming with uncertainty, where we constantly have to make a lot of decisions under incomplete information. We are firm believers that our subjective belief cannot be computed by rigorous mathematical formula; instead…
We present the mathematical model of decision making (DM) of agents acting in a complex and uncertain environment (combining huge variety of economical, financial, behavioral, and geo-political factors). To describe interaction of agents…
In this article, we propose to use the formalism of quantum mechanics to describe and explain the so-called "abnormal" behaviour of agents in certain decision or choice contexts. The basic idea is to postulate that the preferences of these…
On the surface, behavioural science and physics seem to be two disparate fields of research. However, a closer examination of problems solved by them reveals that they are uniquely related to one another. Exemplified by the theories of…
Quantum theory, originally proposed as a physical theory to describe the motions of microscopic particles, has been applied to various non-physics domains involving human cognition and decision-making that are inherently uncertain and…
Quantum cognition in decision-making is a recent and rapidely growing field. In this paper we develop an expected utility theory in a context of non-classical (quantum) uncertainty. We replace the classical state space with a Hilbert space…
The behavior coordinate system and the ideal individual model are presented. The behavior state of an ideal individual is assumed to be represented by a behavior state function. Based on the ideal individual model, the behavior coordinate…
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…
This paper describes an approach to economics that is inspired by quantum computing, and is motivated by the need to develop a consistent quantum mathematical framework for economics. The traditional neoclassical approach assumes that…
The ability to calculate precise likelihood ratios is fundamental to many STEM areas, such as decision-making theory, biomedical science, and engineering. However, there is no assumption-free statistical methodology to achieve this. For…
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…