scholarly journals Quantum probability and quantum decision-making

2016 ◽  
Vol 374 (2058) ◽  
pp. 20150100 ◽  
Author(s):  
V. I. Yukalov ◽  
D. Sornette
Keyword(s):  
Decision Making ◽  
Decision Theory ◽  
Quantum Probability ◽  
Quantum Measurements ◽  
General Definition ◽  
Classical Counterpart ◽  
Composite Events ◽  
Definition Of ◽  
Quantum Decision Theory

A rigorous general definition of quantum probability is given, which is valid not only for elementary events but also for composite events, for operationally testable measurements as well as for inconclusive measurements, and also for non-commuting observables in addition to commutative observables. Our proposed definition of quantum probability makes it possible to describe quantum measurements and quantum decision-making on the same common mathematical footing. Conditions are formulated for the case when quantum decision theory reduces to its classical counterpart and for the situation where the use of quantum decision theory is necessary.

Thünen-Vorlesung: Unternehmensführung und ökonomische Rationalität

2003 ◽  
Vol 4 (3) ◽  
pp. 295-312 ◽  
Author(s):  
Herbert Hax
Keyword(s):  
Decision Making ◽  
Corporate Governance ◽  
Decision Theory ◽  
Organizational Context ◽  
Market Value ◽  
Normative Theory ◽  
Decision Makers ◽  
Individual Decision ◽  
Individual Decision Making ◽  
Definition Of

Abstract In a normative theory of decision making in the firm, limited cognitive capabilities of decision makers can be taken into account in different ways. If individual decision making alone is being considered, the concept of rationality must be defined in such a way that it is acceptable from the viewpoint of potential users of the theory. In an organizational context, normative theory deals primarily with the design of contracts; as far as the anticipation of the actual behaviour of contract partners is concerned an empirically valid descriptive decision theory is needed. A major problem which arises if one applies contract theory to problems of corporate governance is the definition of an adequate standard to evaluate the firm’s outcome periodically. Accounting profit and market value are two possible measures, but both have grave shortcomings.

How to Trust

2012 ◽  
Vol 3 (3) ◽  
pp. 20-34 ◽  
Author(s):  
Massimo Felici
Keyword(s):  
Decision Making ◽  
Decision Model ◽  
General Definition ◽  
Decision Making Processes ◽  
Definition Of

This paper concerns decision-making processes that rely on trust. In particular, it analyzes how different aspects of trust (e.g., trust, trustworthiness, trustworthy evidence) influence trust decisions, and acting on them eventually. It proposes a trust decision model that structures the analysis of contextualized trust problems. Rather than seeking a general definition of trust, this paper advocates the necessity to have a structured way to analyze and characterize situational trust problems systematically.

Broadening the Definition of Decision Making: The Role of Prechoice Screening of Options

1993 ◽  
Vol 4 (4) ◽  
pp. 215-220 ◽  
Author(s):  
Lee Roy Beach
Keyword(s):  
Decision Making ◽  
Decision Theory ◽  
Image Theory ◽  
Research Results ◽  
Empirical Tests ◽  
Definition Of ◽  
Selection Of ◽  
Choice Set

Decision theory and research have focused almost exclusively on choice—the selection of the best option from a choice set containing two or more options. Largely overlooked is the question of how those particular options got there in the first place—why them and not others? This article describes a theory, called image theory, about how prechoice screening of options governs the contents of the set from which a choice is made and summarizes empirical tests of the theory. The research results suggest that screening plays a far more important role in decision making than is generally appreciated and that our view of decision making must be broadened accordingly.

scholarly journals Evolutionary Processes in Quantum Decision Theory

Entropy ◽  
2020 ◽  
Vol 22 (6) ◽  
pp. 681 ◽  
Author(s):  
Vyacheslav I. Yukalov
Keyword(s):  
Decision Making ◽  
Decision Theory ◽  
Rational Choice ◽  
Evolutionary Processes ◽  
Classical Correspondence ◽  
Principal Points ◽  
Quantum Decision Theory

The review presents the basics of quantum decision theory, with an emphasis on temporary processes in decision making. The aim is to explain the principal points of the theory. How an operationally-testable, rational choice between alternatives differs from a choice decorated by irrational feelings is elucidated. Quantum-classical correspondence is emphasized. A model of quantum intelligence network is described. Dynamic inconsistencies are shown to be resolved in the frame of the quantum decision theory.

scholarly journals MATHEMATICAL STRUCTURE OF QUANTUM DECISION THEORY

2010 ◽  
Vol 13 (05) ◽  
pp. 659-698 ◽  
Author(s):  
VYACHESLAV I. YUKALOV ◽  
DIDIER SORNETTE
Keyword(s):  
Decision Making ◽  
Decision Theory ◽  
Hilbert Spaces ◽  
Mathematical Structure ◽  
Conjunction Fallacy ◽  
Human Beings ◽  
Quantum Approach ◽  
Sure Thing Principle ◽  
Classical Decision ◽  
Quantum Decision Theory

One of the most complex systems is the human brain whose formalized functioning is characterized by decision theory. We present a "Quantum Decision Theory" of decision-making, based on the mathematical theory of separable Hilbert spaces. This mathematical structure captures the effect of superposition of composite prospects, including many incorporated intentions, which allows us to explain a variety of interesting fallacies and anomalies that have been reported to particularize the decision-making of real human beings. The theory describes entangled decision-making, non-commutativity of subsequent decisions, and intention interference of composite prospects. We demonstrate how the violation of the Savage's sure-thing principle (disjunction effect) can be explained as a result of the interference of intentions, when making decisions under uncertainty. The conjunction fallacy is also explained by the presence of the interference terms. We demonstrate that all known anomalies and paradoxes, documented in the context of classical decision theory, are reducible to just a few mathematical archetypes, all of which allow the finding of straightforward explanations in the frame of the developed quantum approach.

scholarly journals Consensual Decision-Making Among Epistemic Peers

Episteme ◽  
2009 ◽  
Vol 6 (2) ◽  
pp. 110-129 ◽  
Author(s):  
Stephan Hartmann ◽  
Carlo Martini ◽  
Jan Sprenger
Keyword(s):  
Decision Making ◽  
Social Network ◽  
General Definition ◽  
Equal Weight ◽  
Wagner Model ◽  
Formal Tool ◽  
Epistemic Peers ◽  
Group Deliberation ◽  
Definition Of ◽  
The Impact

ABSTRACTThis paper focuses on the question of how to resolve disagreement and uses the Lehrer-Wagner model as a formal tool for investigating consensual decision-making. The main result consists in a general definition of when agents treat each other as epistemic peers (Kelly 2005; Elga 2007), and a theorem vindicating the “equal weight view” to resolve disagreement among epistemic peers. We apply our findings to an analysis of the impact of social network structures on group deliberation processes, and we demonstrate their stability with the help of numerical simulations.

A Unifying Principle for a Researcher Learning Safety: Reduce Uncertainty!

2018 ◽  
Author(s):  
Camilla Kao ◽  
Russell Furr
Keyword(s):  
Decision Making ◽  
Best Practices ◽  
Mission Statement ◽  
Safety Information ◽  
Health And Safety ◽  
Mission Statements ◽  
Definition Of ◽  
Physical And Chemical

Conveying safety information to researchers is challenging. A list of rules and best practices often is not remembered thoroughly even by individuals who want to remember everything. Researchers in science thinking according to principles: mathematical, physical, and chemical laws; biological paradigms. They use frameworks and logic, rather than memorization, to achieve the bulk of their work. Can safety be taught to researchers in a manner that matches with how they are trained to think? Is there a principle more defined than "Think safety!" that can help researchers make good decisions in situations that are complex, new, and demanding?<div><br></div><div>Effective trainings in other professions can arise from the use of a mission statement that participants internalize as a mental framework or model for future decision-making. We propose that mission statements incorporating the concept of <b>reducing uncertainty</b> could provide such a framework for learning safety. This essay briefly explains the definition of <b>uncertainty</b> in the context of health and safety, discusses the need for an individual to <b>personalize</b> a mission statement in order to internalize it, and connects the idea of <b>greater control</b> over a situation with less uncertainty with respect to safety. The principle of reducing uncertainty might also help <b>non-researchers</b> think about safety. People from all walks of life should be able to understand that more control over their situations provides more protection for them, their colleagues, and the environment.</div>

An Analysis of the Demand for Reporting on Internal Control

2000 ◽  
Vol 14 (3) ◽  
pp. 325-341 ◽  
Author(s):  
Heather M. Hermanson
Keyword(s):  
Decision Making ◽  
Financial Reporting ◽  
Internal Control ◽  
Operational Definition ◽  
Financial Statement ◽  
Individual Investors ◽  
Internal Auditors ◽  
Additional Information ◽  
User Groups ◽  
Definition Of

The purpose of this study is to analyze the demand for reporting on internal control. Nine financial statement user groups were identified and surveyed to determine whether they agree that: (1) management reports on internal control (MRIC) are useful, (2) MRICs influence decisions, and (3) financial reporting is improved by adding MRICs. In addition, the paper examined whether responses varied based on: (1) the definition of internal control used (manipulated as broad, operational definition vs. narrow, financial-reporting definition) and (2) user group. The results indicate that financial statement users agree that internal controls are important. Respondents agreed that voluntary MRICs improved controls and provided additional information for decision making. Respondents also agreed that mandatory MRICs improved controls, but did not agree about their value for decision making. Using a broad definition of controls, respondents strongly agreed that MRICs improved controls and provided a better indicator of a company's long-term viability. Executive respondents were less likely to agree about the value of MRICs than individual investors and internal auditors.

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