A quantum probability explanation for violations of "rational" decision theory

Pothos, E. M. & Busemeyer, J. R. (2009). A quantum probability explanation for violations of "rational" decision theory. Proceedings of the Royal Society B: Biological Sciences, 276(1665), pp. 2171-2178. doi: 10.1098/rspb.2009.0121

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Abstract

Two experimental tasks in psychology, the two-stage gambling game and the Prisoner's Dilemma game, show that people violate the sure thing principle of decision theory. These paradoxical findings have resisted explanation by classical decision theory for over a decade. A quantum probability model, based on a Hilbert space representation and Schrödinger's equation, provides a simple and elegant explanation for this behaviour. The quantum model is compared with an equivalent Markov model and it is shown that the latter is unable to account for violations of the sure thing principle. Accordingly, it is argued that quantum probability provides a better framework for modelling human decision-making.

Item Type: Article
Uncontrolled Keywords: Prisoner's Dilemma; quantum probability; decision-making; cognitive science
Subjects: B Philosophy. Psychology. Religion > BF Psychology
Q Science > QA Mathematics
Divisions: School of Social Sciences > Department of Psychology
URI: http://openaccess.city.ac.uk/id/eprint/1979

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