Related papers: Type Indeterminacy: A Model for the KT(Kahneman-Tv…
Time-inconsistent preferences, where agents favor smaller-sooner over larger-later rewards, are a key feature of human and animal decision-making. Quasi-Hyperbolic (QH) discounting provides a simple yet powerful model for this behavior, but…
A suitable unified statistical formulation of quantum and classical mechanics in a *-algebraic setting leads us to conclude that information itself is noncommutative in quantum mechanics. Specifically we refer here to an observer's…
One of the most complex systems is the human brain whose formalized functioning is characterized by decision theory. We present a "Quantum Decision Theory" of decision making, based on the mathematical theory of separable Hilbert spaces.…
We provide an axiomatic foundation for the representation of num\'{e}raire-invariant preferences of economic agents acting in a financial market. In a static environment, the simple axioms turn out to be equivalent to the following choice…
There are good motivations for considering some type of quantum histories formalism. Several possible formalisms are known, defined by different definitions of event and by different selection criteria for sets of histories. These…
Emergent collective group processes and capabilities have been studied through analysis of transactive memory, measures of group task performance, and group intelligence, among others. In their approach to collective behaviors, these…
Recovering and distinguishing between the strict-preference, indifference and/or indecisiveness parts of a decision maker's preferences is a challenging task but also important for testing theory and conducting welfare analysis. This paper…
Discussions on indeterminism in physics focus on the possibility of an open future, i.e. the possibility of having potential alternative future events, the realisation of one of which is not fully determined by the present state of affairs.…
We study three axioms in the model of constrained social choice under uncertainty where (i) agents have subjective expected utility preferences over acts and (ii) different states of nature have (possibly) different sets of available…
We consider a simple model of interacting agents asked to choose between "yes" and "not" to some given question. The agents are described in terms of spin variables, and they interact according to a mean field Heisenberg model. We discuss…
We study preference learning through recommendations in multi-agent game settings, where a moderator repeatedly interacts with agents whose utility functions are unknown. In each round, the moderator issues action recommendations and…
We propose and axiomatize a new model of incomplete preferences under uncertainty, which we call \textit{hope-and-prepare preferences}. An act is considered more desirable than an other act when, and only when, both an optimistic…
Since quantum mechanics (QM) was formulated, many voices have claimed this to be the basis of free will in the human beings. Basically, they argue that free will is possible because there is an ontological indeterminism in the natural laws,…
Is quantum mechanics about 'states'? Or is it basically another kind of probability theory? It is argued that the elementary formalism of quantum mechanics operates as a well-justified alternative to 'classical' instantiations of a…
In-group favoritism refers to the phenomena of favoring members of one's in-group over out-group members and is widely observed in numerous social cooperative behaviors. Recently, in-group favoritism biases have also been identified in…
This paper presents a probabilistic approach to represent and quantify model-form uncertainties in the reduced-order modeling of complex systems using operator inference techniques. Such uncertainties can arise in the selection of an…
In this article, we address the question of how non-knowledge about future events that influence economic agents' decisions in choice settings has been formally represented in economic theory up to date. To position our discussion within…
In this paper, we consider the revealed preferences problem from a learning perspective. Every day, a price vector and a budget is drawn from an unknown distribution, and a rational agent buys his most preferred bundle according to some…
We present a behavioral definition of an agent's perceived implication that uniquely identifies a subjective state-space representing her view of a decision problem, and which may differ from the modeler's. By examining belief updating…
Judgment of risk is key to decision-making under uncertainty. As Daniel Kahneman and Amos Tversky famously discovered, humans do so in a distinctive way that departs from mathematical rationalism. Specifically, they demonstrated…