Related papers: Dynamic consistency of expected utility under non-…
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…
Quantum computers can be used to simulate nonlinear non-Hamiltonian classical dynamics on phase space by using the generalized Koopman-von Neumann formulation of classical mechanics. The Koopman-von Neumann formulation implies that the…
In this paper, we formulate a qualitative "linear" utility theory for lotteries in which uncertainty is expressed qualitatively using a Spohnian disbelief function. We argue that a rational decision maker facing an uncertain decision…
Gilboa and Schmeidler's (1989) uncertainty aversion plays a central role in decision theory and economics, yet many inconsistent behaviors have been observed in experiments. Motivated by this, we study an axiom postulating a minimal degree…
Deterministic dynamical models are discussed which can be described in quantum mechanical terms. In particular, a local quantum field theory is presented which is a supersymmetric classical model. -- The Hilbert space approach of Koopman…
Deterministic dynamical models are discussed which can be described in quantum mechanical terms. -- In particular, a local quantum field theory is presented which is a supersymmetric classical model. The Hilbert space approach of Koopman…
This paper presents a comprehensive formalization of the von Neumann-Morgenstern (vNM) expected utility theorem using the Lean 4 interactive theorem prover. We implement the classical axioms of preference-completeness, transitivity,…
This Chapter develops a realist information-theoretic interpretation of the nonclassical features of quantum probabilities. On this view, what is fundamental in the transition from classical to quantum physics is the recognition that…
In consistent history quantum theory, a description of the time development of a quantum system requires choosing a framework or consistent family, and then calculating probabilities for the different histories which it contains. It is…
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…
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…
The formalism of quantum theory in Hilbert space has been applied with success to the modeling and explanation of several cognitive phenomena, whereas traditional cognitive approaches were problematical. However, this 'quantum cognition…
Quantum theory does not only predict probabilities, but also relative phases for any experiment, that involves measurements of an ensemble of systems at different moments of time. We argue, that any operational formulation of quantum theory…
Two fundamental axioms in social choice theory are consistency with respect to a variable electorate and consistency with respect to components of similar alternatives. In the context of traditional non-probabilistic social choice, these…
This paper introduces several new classes of mathematical structures that have close connections with physics and with the theory of dynamical systems. The most general of these structures, called indivisible stochastic processes,…
Precise rules are developed in order to formalize the reasoning processes involved in standard non-relativistic quantum mechanics, with the help of analogies from classical physics. A classical or quantum description of a mechanical system…
We propose a quantum expected value theory for decision-making under uncertainty. Quantum density operator as value operator is proposed to simulate people's subjective beliefs. Value operator guides people to choose corresponding actions…
In recent years, the non-relativistic quantum dynamics derived from three assumptions; i) probability current conservation, ii) average energy conservation, and iii) an epistemic momentum uncertainty [A. Budiyono and D. Rohrlich,…
Quantum cognition often explains order effects, contextuality, and violations of the law of total probability by replacing classical probability with quantum probability on a fixed event structure. This paper proposes a different…
The sure thing principle and the law of total probability are basic laws in classic probability theory. A disjunction fallacy leads to the violation of these two classical probability laws. In this paper, a new quantum dynamic belief…