Related papers: Quantum-like approach to financial risk: quantum a…
This is a short review of the background and recent development in quantum game theory and its possible application in economics and finance. The intersection of science and society is discussed and Quantum Anthropic Principle is put…
We propose a quantum-like description of markets and economics. The approach has roots in the recently developed quantum game theory.
Quantum theory is used to model secondary financial markets. Contrary to stochastic descriptions, the formalism emphasizes the importance of trading in determining the value of a security. All possible realizations of investors holding…
Financial volatility risk and its relation to a business cycle-related intrinsic time is addressed through a multiple round evolutionary quantum game equilibrium leading to turbulence and multifractal signatures in the financial returns and…
Experimental results presented in this paper supports the hypothesis on quantum-like statistical behaviour of cognitive systems (at least human beings). Our quantum-like approach gives the possibility to represent mental states by Hilbert…
We analyze complexity of financial (and general economic) processes by comparing classical and quantum-like models for randomness. Our analysis implies that it might be that a quantum-like probabilistic description is more natural for…
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…
We present a consistent formulation of quantum game theory that accommodates all possible strategies in Hilbert space. The physical content of the quantum strategy is revealed as a family of classical games representing altruistic game play…
A quantum version of the action principle is formulated in terms of real parameters of a wave functional. The classical limit of the quantum action of a harmonic oscillator is obtained.
Recent development in quantum computation and quantum information theory allows to extend the scope of game theory for the quantum world. The authors have recently proposed a quantum description of financial market in terms of quantum game…
A quantum theory in a finite-dimensional Hilbert space can be geometrically formulated as a proper Hamiltonian theory as explained in [2, 3, 7, 8]. From this point of view a quantum system can be described in a classical-like framework…
In their activity, the traders approximate the rate of return by integer multiples of a minimal one. Therefore, it can be regarded as a quantized variable. On the other hand, there is the impossibility of observing the rate of return and…
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 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…
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…
The complex Hilbert space of standard quantum mechanics may be treated as a real Hilbert space. The pure states of the complex theory become mixed states in the real formulation. It is then possible to generalize standard quantum mechanics,…
We address quantum estimation in situations where one has at disposal data from the measurement of an incomplete set of observables and some a priori information on the state itself. By expressing the a priori information in terms of a bias…
Most people are risk-averse (risk-seeking) when they expect to gain (lose). Based on a generalization of ``expected utility theory'' which takes this into account, we introduce an automaton mimicking the dynamics of economic operations.…
Hilbert space operators may be mapped onto a space of ordinary functions (operator symbols) equipped with an associative (but noncommutative) star-product. A unified framework for such maps is reviewed. Because of its clear probabilistic…
Quantum information has suggested new forms of quantum logic, called quantum computational logics, where meanings of sentences are represented by pieces of quantum information (generally, density operators of some Hilbert spaces), which can…