Type indeterminacy: A model of the KT(Kahneman-Tversky)-man
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Abstract: In this paper we propose to use elements of the mathematical formalism of Quantum Mechanics to capture the idea that agents' preferences, in addition to being typically uncertain, can also be indeterminate. They are determined (i.e., realized, and not merely revealed) only when the action takes place. An agent is described by a state that is a superposition of potential types (or preferences or behaviors). This superposed state is projected (or "collapses") onto one of the possible behaviors at the time of the interaction. In addition to the main goal of modelling uncertainty of preferences that is not due to lack of information, this formalism seems to be adequate to describe widely observed phenomena of noncommutativity in patterns of behavior. We explore some implications of our approach in a comparison between classical and type indeterminate rational choice behavior. The potential of the approach is illustrated in two examples.
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Cites work
- scientific article; zbMATH DE number 3771591 (Why is no real title available?)
- scientific article; zbMATH DE number 3186734 (Why is no real title available?)
- scientific article; zbMATH DE number 3048439 (Why is no real title available?)
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- Microeconomic theory
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Cited in
(30)- Advanced tools and concepts for quantum cognition: a tutorial
- The relationship between quantum and classical correlation in games
- Testing quantum-like models of judgment for question order effect
- Private information and the `Information function': A survey of possible uses
- Possibility to agree on disagree from quantum information and decision making
- Quantum credit loans
- The triple-store experiment: a first simultaneous test of classical and quantum probabilities in choice over menus
- Special issue: Quantum structures in computer science: language, semantics, retrieval
- Expected utility theory under non-classical uncertainty
- A connection between quantum decision theory and quantum games: the Hamiltonian of strategic interaction
- The unreasonable success of quantum probability. I: Quantum measurements as uniform fluctuations
- Quantum mechanics and violations of the sure-thing principle: The use of probability interference and other concepts
- The conjunction fallacy and interference effects
- A quantum probability explanation in Fock space for borderline contradictions
- Quantum structure in cognition: human language as a boson gas of entangled words
- Quantum probability updating from zero priors (by-passing Cromwell's rule)
- Binary choices dynamics with quantum decision
- A quantum-like model for complementarity of preferences and beliefs in dilemma games
- Quantum search for the dating market
- Bohr complementarity in memory retrieval
- An Exploration of Type Indeterminacy in Strategic Decision-Making
- Quantum-like models cannot account for the conjunction fallacy
- Quantum cognition and decision theories: a tutorial
- Quantum version of Aumann's approach to common knowledge: sufficient conditions of impossibility to agree on disagree
- Measurable systems and behavioral sciences
- Emergence of fuzzy preferences for risk in a Birkhoff-von Neumann logics environment
- Do transitive preferences always result in indifferent divisions?
- Quantum-like generalization of the Bayesian updating scheme for objective and subjective mental uncertainties
- Modeling the act of measurement in the social sciences
- Quantum dynamics of human decision-making
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