Dynamic consistency of expected utility under non-classical (quantum) uncertainty
Ariane Lambert-Mogiliansky
- Fonction : Auteur
- PersonId : 1284421
- IdHAL : ariane-lambert-mogiliansky
- ORCID : 0000-0003-4065-2049
- IdRef : 219670277
Vassili Vergopoulos
- Fonction : Auteur
- PersonId : 10489
- IdHAL : vassili-vergopoulos
- IdRef : 244992347
Résumé
Quantum cognition in decision making is a recent and rapidly growing field. In this paper, we develop an expected utility theory in a context of non-classical (quantum) uncertainty. We replace the classical state space with a Hilbert space which allows introducing the concept of quantum lottery. Within that framework, we formulate axioms on preferences over quantum lotteries to establish a representation theorem. We show that demanding the consistency of choice behavior conditional on new information is equivalent to the von Neumann–Lüders postulate applied to beliefs. A dynamically consistent quantum-like agent may violate dynamic recursive consistency, however. This feature suggests interesting applications in behavioral economics as we illustrate in an example of persuasion.
Domaines
Economies et financesFormat du dépôt | Notice |
---|---|
Type de dépôt | Article dans une revue |
Titre |
en
Dynamic consistency of expected utility under non-classical (quantum) uncertainty
|
Résumé |
en
Quantum cognition in decision making is a recent and rapidly growing field. In this paper, we develop an expected utility theory in a context of non-classical (quantum) uncertainty. We replace the classical state space with a Hilbert space which allows introducing the concept of quantum lottery. Within that framework, we formulate axioms on preferences over quantum lotteries to establish a representation theorem. We show that demanding the consistency of choice behavior conditional on new information is equivalent to the von Neumann–Lüders postulate applied to beliefs. A dynamically consistent quantum-like agent may violate dynamic recursive consistency, however. This feature suggests interesting applications in behavioral economics as we illustrate in an example of persuasion.
|
Auteur(s) |
Vladimir Ivanovitch Danilov
1
, Ariane Lambert-Mogiliansky
2, 3
, Vassili Vergopoulos
2, 4
1
CEMI -
Central Institute of Economics and Mathematics of the RAS
( 425898 )
- 47 Nakhimovsky prospect, 117418, Moscow
- Russie
2
PSE -
Paris School of Economics
( 301309 )
- 48 boulevard Jourdan 75014 Paris
- France
3
PJSE -
Paris Jourdan Sciences Economiques
( 1171428 )
- 48 boulevard Jourdan 75014 Paris
- France
4
CES -
Centre d'économie de la Sorbonne
( 15080 )
- Maison des Sciences Économiques - 106-112 Boulevard de l'Hôpital - 75647 Paris Cedex 13
- France
|
Langue du document |
Anglais
|
Nom de la revue |
|
Vulgarisation |
Non
|
Comité de lecture |
Oui
|
Audience |
Internationale
|
Date de publication |
2018-06
|
Volume |
84
|
Numéro |
4
|
Page/Identifiant |
645 - 670
|
Domaine(s) |
|
Mots-clés |
en
Quantum lottery, Decision-making, Uncertainty, Dynamic consistency
|
DOI | 10.1007/s11238-018-9659-7 |
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