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Quantum decision making by social agents

  • V. I. Yukalov
  • D. Sornette
Registered author(s):

    The influence of additional information on the decision making of agents, who are interacting members of a society, is analyzed within the mathematical framework based on the use of quantum probabilities. The introduction of social interactions, which influence the decisions of individual agents, leads to a generalization of the quantum decision theory developed earlier by the authors for separate individuals. The generalized approach is free of the standard paradoxes of classical decision theory. This approach also explains the error-attenuation effects observed for the paradoxes occurring when decision makers, who are members of a society, consult with each other, increasing in this way the available mutual information. A precise correspondence between quantum decision theory and classical utility theory is formulated via the introduction of an intermediate probabilistic version of utility theory of a novel form, which obeys the requirement that zero-utility prospects should have zero probability weights.

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    File URL: http://arxiv.org/pdf/1202.4918
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    Paper provided by arXiv.org in its series Papers with number 1202.4918.

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    Date of creation: Feb 2012
    Date of revision: Oct 2015
    Publication status: Published in International Journal of Information Technology & Decision Making 13 (2014) (pages 1-38)
    Handle: RePEc:arx:papers:1202.4918
    Contact details of provider: Web page: http://arxiv.org/

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