Socio-Economic Sciences: Beyond Quantum Math-like Formalisms

Since the beginning of the 21st century, a new interdisciplinary research movement has started, which aims at developing quantum math-like (or simply quantum-like) models to provide an explanation for a variety of socio-economic processes and human behaviour. By making use of mainly the probabilistic aspects of quantum theory, this research movement has led to many important results in the areas of decision-making and finance. In this article, we introduce a novel and more exhaustive approach, to analyze the socio-economic processes and activities, than the pure quantum math-like modelling approach, by taking into account the physical foundations of quantum theory. We also provide a plausibility argument for its exhaustiveness in terms of what we can expect from such an approach, when it is applied to, for example, a generic socio-economic decision process.

Introduction-Reconstructing Scientific Pasts

The universe is made of stories, not of atoms.1 —MURIEL RUKEYSER Graduate work in both physics and history taught me to use highly specialized research methods to rigorously search out truth and eradicate myths. In spring 2012, I brought this mindset with me as I sat down for lunch with physicist Pierre Hohenberg at the Apple Restaurant near Manhattan’s Washington Square Park. Pierre was a brilliant physicist and a family friend. Toward the end of his life, he was particularly invested in work on the foundations of quantum theory....