pith. sign in

arxiv: 1811.00875 · v1 · pith:DMBBOGDYnew · submitted 2018-10-29 · 💻 cs.AI · econ.GN· q-bio.NC· q-fin.EC· quant-ph

Quantum Structures in Human Decision-making: Towards Quantum Expected Utility

classification 💻 cs.AI econ.GNq-bio.NCq-fin.ECquant-ph
keywords ellsbergempiricalframeworkhumanquantumdecision-makingdecisionsentity
0
0 comments X
read the original abstract

{\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 under uncertainty which satisfactorily copes with the Ellsberg paradox and other puzzles of SEUT. We apply here the quantum-theoretic framework to the {\it Ellsberg two-urn example}, showing that the paradox can be explained by assuming a state change of the conceptual entity that is the object of the decision ({\it decision-making}, or {\it DM}, {\it entity}) and representing subjective probabilities by quantum probabilities. We also model the empirical data we collected in a DM test on human participants within the theoretic framework above. The obtained results are relevant, as they provide a line to model real life, e.g., financial and medical, decisions that show the same empirical patterns as the two-urn experiment.

This paper has not been read by Pith yet.

discussion (0)

Sign in with ORCID, Apple, or X to comment. Anyone can read and Pith papers without signing in.