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Decision theory with prospect interference and entanglement

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  • V. Yukalov

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  • D. Sornette

Abstract

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Suggested Citation

  • V. Yukalov & D. Sornette, 2011. "Decision theory with prospect interference and entanglement," Theory and Decision, Springer, vol. 70(3), pages 283-328, March.
  • Handle: RePEc:kap:theord:v:70:y:2011:i:3:p:283-328
    DOI: 10.1007/s11238-010-9202-y
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    References listed on IDEAS

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    1. V. I. Yukalov & D. Sornette, 2009. "Physics of risk and uncertainty in quantum decision making," The European Physical Journal B: Condensed Matter and Complex Systems, Springer;EDP Sciences, vol. 71(4), pages 533-548, October.
    2. Zvi Safra & Uzi Segal, 2008. "Calibration Results for Non-Expected Utility Theories," Econometrica, Econometric Society, vol. 76(5), pages 1143-1166, September.
    3. Fox, Craig R & Rogers, Brett A & Tversky, Amos, 1996. "Options Traders Exhibit Subadditive Decision Weights," Journal of Risk and Uncertainty, Springer, vol. 13(1), pages 5-17, July.
    4. Siniscalchi, Marciano, 2009. "Two Out Of Three Ain'T Bad: A Comment On “The Ambiguity Aversion Literature: A Critical Assessment”," Economics and Philosophy, Cambridge University Press, vol. 25(03), pages 335-356, November.
    5. John Dickhaut & Kevin McCabe & Jennifer C. Nagode & Aldo Rustichini & Kip Smith & Jose Pardo, 2002. "The impact of the certainty context on the process of choice," CEEL Working Papers 0216, Cognitive and Experimental Economics Laboratory, Department of Economics, University of Trento, Italia.
    6. Quiggin, John, 1982. "A theory of anticipated utility," Journal of Economic Behavior & Organization, Elsevier, vol. 3(4), pages 323-343, December.
    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.
    8. Larry G. Epstein, 1999. "A Definition of Uncertainty Aversion," Review of Economic Studies, Oxford University Press, vol. 66(3), pages 579-608.
    9. Roman Sheremeta & Jingjing Zhang, 2010. "Can groups solve the problem of over-bidding in contests?," Social Choice and Welfare, Springer;The Society for Social Choice and Welfare, vol. 35(2), pages 175-197, July.
    10. Al-Najjar, Nabil I. & Weinstein, Jonathan, 2009. "Rejoinder: The “Ambiguity Aversion Literature: A Critical Assessment”," Economics and Philosophy, Cambridge University Press, vol. 25(03), pages 357-369, November.
    11. Zeckhauser Richard, 2006. "Investing in the Unknown and Unknowable," Capitalism and Society, De Gruyter, vol. 1(2), pages 1-41, September.
    12. Gilboa, Itzhak, 1987. "Expected utility with purely subjective non-additive probabilities," Journal of Mathematical Economics, Elsevier, vol. 16(1), pages 65-88, February.
    13. Shane Frederick & George Loewenstein & Ted O'Donoghue, 2002. "Time Discounting and Time Preference: A Critical Review," Journal of Economic Literature, American Economic Association, vol. 40(2), pages 351-401, June.
    14. Schmeidler, David, 1989. "Subjective Probability and Expected Utility without Additivity," Econometrica, Econometric Society, vol. 57(3), pages 571-587, May.
    15. Al-Najjar, Nabil I. & Weinstein, Jonathan, 2009. "The Ambiguity Aversion Literature: A Critical Assessment," Economics and Philosophy, Cambridge University Press, vol. 25(03), pages 249-284, November.
    16. Aldo Montesano, 2008. "Effects of Uncertainty Aversion on the Call Option Market," Theory and Decision, Springer, vol. 65(2), pages 97-123, September.
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    Citations

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    Cited by:

    1. V. I. Yukalov & D. Sornette, 2012. "Quantum decision making by social agents," Papers 1202.4918, arXiv.org, revised Oct 2015.
    2. Godfrey Cadogan, 2012. "Representation theory for risk on markowitz-tversky-kahneman topology," Economics Bulletin, AccessEcon, vol. 32(4), pages 1-34.
    3. Thomas Boyer-Kassem & Sébastien Duchêne & Eric Guerci, 2016. "Quantum-like models cannot account for the conjunction fallacy," Theory and Decision, Springer, vol. 81(4), pages 479-510, November.
    4. Jerome R. Busemeyer & Jörg Rieskamp, 2014. "Psychological research and theories on preferential choice," Chapters,in: Handbook of Choice Modelling, chapter 3, pages 49-72 Edward Elgar Publishing.
    5. Ashtiani, Mehrdad & Azgomi, Mohammad Abdollahi, 2015. "A survey of quantum-like approaches to decision making and cognition," Mathematical Social Sciences, Elsevier, vol. 75(C), pages 49-80.
    6. Bodo Herzog, 2015. "Anchoring of expectations: The role of credible targets in a game experiment," Journal of Economic and Financial Studies (JEFS), LAR Center Press, vol. 3(6), pages 1-15, December.
    7. Mehrdad Ashtiani & Mohammad Abdollahi Azgomi, 2016. "A formulation of computational trust based on quantum decision theory," Information Systems Frontiers, Springer, vol. 18(4), pages 735-764, August.
    8. Boyer-Kassem, Thomas & Duchêne, Sébastien & Guerci, Eric, 2016. "Testing quantum-like models of judgment for question order effect," Mathematical Social Sciences, Elsevier, vol. 80(C), pages 33-46.

    More about this item

    Keywords

    Conjunction fallacy; Decision making; Decision noncommutativity; Disjunction effect; Entangled decisions; Intention interference; Interference alternation; Uncertainty aversion; C10; C40; C44; D03;

    JEL classification:

    • C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
    • C40 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - General
    • C44 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods: Special Topics - - - Operations Research; Statistical Decision Theory
    • D03 - Microeconomics - - General - - - Behavioral Microeconomics: Underlying Principles

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