Thinking and Deciding in a Complex World

Polina Khrennikova*

*Corresponding author for this work

Research output: Chapter in Book/Report/Conference proceedingChapterAcademicpeer-review

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Abstract

Early ‘paradoxical’ findings in decision theory, such as Allais and Ellsberg paradoxes, revealed an existence of preference reversals and non-neutral attitudes to subjective risks that cannot be mathematically captured via the formula of total probability, thus showing that agents’ decision making is at variance with the classical probabilistic information processing mode. In this paper, we discuss in more detail the decision making contexts pertaining to non-consequential reasoning, and how these instances of non-classical preferences can be described, and also quantified with the aid of alternative frameworks based on quantum probability theory. We consider the major challenges to a unified “quantum-like” framework of thinking and deciding under uncertainty and risk and elaborate on some successful solutions.

Original languageEnglish
Title of host publicationThe Quantum-Like Revolution
Subtitle of host publicationA Festschrift for Andrei Khrennikov
PublisherSpringer Nature
Pages327-337
Number of pages11
ISBN (Electronic)9783031129865
ISBN (Print)9783031129858
DOIs
Publication statusPublished - 27 Jun 2023

Keywords

  • Contextual decision making
  • Disjunction effect
  • Generalized observables
  • Interference
  • Quantum probability
  • 2024 OA procedure

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