A quantum-like model of selection behavior
From MaRDI portal
Publication:2409684
Abstract: In this paper, we introduce a new model of selection behavior under risk that describes an essential cognitive process for comparing values of objects and making a selection decision. This model is constructed by the quantum-like approach that employs the state representation specific to quantum theory, which has the mathematical framework beyond the classical probability theory. We show that our quantum approach can clearly explain the famous examples of anomalies for the expected utility theory, the Ellsberg paradox, the Machina paradox and the disparity between WTA and WTP. Further, we point out that our model mathematically specifies the characteristics of the probability weighting function and the value function, which are basic concepts in the prospect theory.
Recommendations
- Quantum-like model of subjective expected utility
- From ambiguity aversion to a generalized expected utility. Modeling preferences in a quantum probabilistic framework
- The Ellsberg paradox: a challenge to quantum decision theory?
- Dynamic consistency of expected utility under non-classical (quantum) uncertainty
- OR Forum—Quantum Mechanics and Human Decision Making
Cites work
- scientific article; zbMATH DE number 3084669 (Why is no real title available?)
- A Smooth Model of Decision Making under Ambiguity
- Advances in prospect theory: cumulative representation of uncertainty
- Ambiguity Aversion, Robustness, and the Variational Representation of Preferences
- Classical and quantum contents of solvable game theory on Hilbert space
- Cumulative prospect theory and the St. Petersburg paradox
- Differentiating ambiguity and ambiguity attitude
- Empirical comparison of Markov and quantum models of decision making
- Information dynamics in cognitive, psychological, social and anomalous phenomena.
- Interference and inequality in quantum decision theory
- Interpretations of Probability
- It is whether you win or lose: the importance of the overall probabilities of winning or losing in risky choice
- Mathematical foundations of quantum information and computation and its applications to nano- and bio-systems
- Maxmin expected utility with non-unique prior
- On Quantum-Like Probabilistic Structure of Mental Information
- On application of Gorini-Kossakowski-Sudarshan-Lindblad equation in cognitive psychology
- Prospect Theory: An Analysis of Decision under Risk
- Quantum Markov model for data from Shafir-Tversky experiments in cognitive psychology
- Quantum dynamics of human decision-making
- Quantum mechanics and violations of the sure-thing principle: The use of probability interference and other concepts
- Quantum mechanics, interference, and the brain
- Quantum-like dynamics of decision-making in prisoner's dilemma game
- Quantum-like model for decision making process in Two players game. A non-Kolmogorovian model
- Quantum-like model of brain's functioning: decision making from decoherence
- Quantum-like models cannot account for the conjunction fallacy
- Risk, ambiguity and the Savage axioms
- Stochastic choice and consideration sets
- Subjective Probability and Expected Utility without Additivity
- Testing quantum-like models of judgment for question order effect
- The Probability Weighting Function
- Ubiquitous Quantum Structure
Cited in
(13)- Probability interference in expected utility theory
- Quantum probability for modeling cognition, decision making, and artificial intelligence
- The triple-store experiment: a first simultaneous test of classical and quantum probabilities in choice over menus
- An evidential Markov decision making model
- Type indeterminacy: A model of the KT(Kahneman-Tversky)-man
- Quantum like modeling of decision making: quantifying uncertainty with the aid of Heisenberg-Robertson inequality
- Editorial: Introduction to quantum probability theory and its economic applications
- Quantum-like model of subjective expected utility
- Testing ambiguity and Machina preferences within a quantum-theoretic framework for decision-making
- Quantum theory as a relevant framework for the statement of probabilistic and many-valued logic
- “What Is Life?”: Open Quantum Systems Approach
- Decision-making under uncertainty -- a quantum value operator approach
- Modeling combination of question order effect, response replicability effect, and QQ-equality with quantum instruments
This page was built for publication: A quantum-like model of selection behavior
Report a bug (only for logged in users!)Click here to report a bug for this page (MaRDI item Q2409684)
