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Elementary Quantum Mechanical Principles and Social Science: Is There a Connection?

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Author Info
Haven, Emmanuel () (School of Management - University of Leicester - United Kingdom)
Abstract

In this paper we provide first for a brief overview of some of the work which has been performed on the interface of quantum mechanics and macroscopic systems (such as economics). We then provide for an overview of how such quantum mechanical concepts can enter financial option pricing theory. We round off the paper with some suggestions on where this area of research can be heading in the near future.

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File URL: http://www.ipe.ro/rjef/rjef1_08/rjef1_08_4.html
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Publisher Info
Article provided by Institute for Economic Forecasting in its journal Romanian Journal of Economic Forecasting.

Volume (Year): 5 (2008)
Issue (Month): 1 (March)
Pages: 41-58
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Handle: RePEc:rjr:romjef:v:5:y:2008:i:1:p:41-58

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Related research
Keywords: superposition; wave function; Black-Scholes option price; information function; probability amplitude; Schrödinger equation; Newton- Bohm trajectory; mean forward (backward) derivative;

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Find related papers by JEL classification:
C00 - Mathematical and Quantitative Methods - - General - - - General
C02 - Mathematical and Quantitative Methods - - General - - - Mathematical Economics
G12 - Financial Economics - - General Financial Markets - - - Asset Pricing

References listed on IDEAS
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  1. Andrei Khrennikov, 2007. "Classical and quantum randomness and the financial market," Quantitative Finance Papers 0704.2865, arXiv.org. [Downloadable!]
  2. Badredine Arfi, 2005. "Resolving the Trust Predicament: A Quantum Game-theoretic Approach," Theory and Decision, Springer, vol. 59(2), pages 127-174, 09. [Downloadable!] (restricted)
  3. Machina, Mark J., 1989. "Comparative statics and non-expected utility preferences," Journal of Economic Theory, Elsevier, vol. 47(2), pages 393-405, April. [Downloadable!] (restricted)
  4. Lux, T. & M. Marchesi, . "Scaling and Criticality in a Stochastic Multi-Agent Model of a Financial Market," Discussion Paper Serie B 438, University of Bonn, Germany, revised Jul 1998.
  5. Shubik, Martin, 1999. "Quantum economics, uncertainty and the optimal grid size," Economics Letters, Elsevier, vol. 64(3), pages 277-278, September. [Downloadable!] (restricted)
  6. Ghirardato, Paolo & Maccheroni, Fabio & Marinacci, Massimo, 2004. "Differentiating ambiguity and ambiguity attitude," Journal of Economic Theory, Elsevier, vol. 118(2), pages 133-173, October. [Downloadable!] (restricted)
  7. Gilboa, Itzhak & Schmeidler, David, 1989. "Maxmin expected utility with non-unique prior," Journal of Mathematical Economics, Elsevier, vol. 18(2), pages 141-153, April. [Downloadable!] (restricted)
  8. Machina, Mark J, 1989. "Dynamic Consistency and Non-expected Utility Models of Choice under Uncertainty," Journal of Economic Literature, American Economic Association, vol. 27(4), pages 1622-68, December. [Downloadable!] (restricted)
  9. Black, Fischer & Scholes, Myron S, 1973. "The Pricing of Options and Corporate Liabilities," Journal of Political Economy, University of Chicago Press, vol. 81(3), pages 637-54, May-June. [Downloadable!] (restricted)
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