A quantum-like model of selection behavior
From MaRDI portal
Publication:2409684
DOI10.1016/J.JMP.2016.07.006zbMATH Open1382.91041arXiv1705.08536OpenAlexW2510338819MaRDI QIDQ2409684FDOQ2409684
Authors: Masanari Asano, Irina Basieva, Masanori Ohya, Yoshiharu Tanaka, Andrei Khrennikov 
Publication date: 13 October 2017
Published in: Journal of Mathematical Psychology (Search for Journal in Brave)
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.
Full work available at URL: https://arxiv.org/abs/1705.08536
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
Decision theory (91B06) Cognitive psychology (91E10) Utility theory (91B16) Applications of statistical and quantum mechanics to economics (econophysics) (91B80)
Cites Work
- Title not available (Why is that?)
- Maxmin expected utility with non-unique prior
- Risk, ambiguity and the Savage axioms
- Interpretations of Probability
- Subjective Probability and Expected Utility without Additivity
- The Probability Weighting Function
- Ambiguity Aversion, Robustness, and the Variational Representation of Preferences
- A Smooth Model of Decision Making under Ambiguity
- Advances in prospect theory: cumulative representation of uncertainty
- Differentiating ambiguity and ambiguity attitude
- Classical and quantum contents of solvable game theory on Hilbert space
- Prospect Theory: An Analysis of Decision under Risk
- Quantum mechanics and violations of the sure-thing principle: The use of probability interference and other concepts
- Empirical comparison of Markov and quantum models of decision making
- Quantum dynamics of human decision-making
- Testing quantum-like models of judgment for question order effect
- Ubiquitous Quantum Structure
- Quantum mechanics, interference, and the brain
- Quantum-like model of brain's functioning: decision making from decoherence
- Information dynamics in cognitive, psychological, social and anomalous phenomena.
- Cumulative prospect theory and the St. Petersburg paradox
- Mathematical foundations of quantum information and computation and its applications to nano- and bio-systems
- It is whether you win or lose: the importance of the overall probabilities of winning or losing in risky choice
- Stochastic choice and consideration sets
- Quantum-like model for decision making process in Two players game. A non-Kolmogorovian model
- On application of Gorini-Kossakowski-Sudarshan-Lindblad equation in cognitive psychology
- Interference and inequality in quantum decision theory
- On Quantum-Like Probabilistic Structure of Mental Information
- Quantum Markov model for data from Shafir-Tversky experiments in cognitive psychology
- Quantum-like models cannot account for the conjunction fallacy
- Quantum-like dynamics of decision-making in prisoner's dilemma game
Cited In (13)
- 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
- “What Is Life?”: Open Quantum Systems Approach
- Quantum theory as a relevant framework for the statement of probabilistic and many-valued logic
- Decision-making under uncertainty -- a quantum value operator approach
- Modeling combination of question order effect, response replicability effect, and QQ-equality with quantum instruments
- Probability interference in expected utility theory
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)
