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The Ellsberg paradox: A challenge to quantum decision theory?

journal contribution
posted on 2018-03-14, 10:50 authored by Ali al-Nowaihiy, Sanjit Dhamiz
We set up a simple quantum decision model of the Ellsberg paradox. We find that the matching probabilities that our model predict are in good agreement with those empirically measured by Dimmock et al. (2015). Our derivation is parameter free. It only depends on quantum probability theory in conjunction with the heuristic of insufficient reason. We suggest that much of what is normally attributed to probability weighting might actually be due to quantum probability.

History

Citation

Journal of Mathematical Psychology, 2017, 78, pp 40-50

Author affiliation

/Organisation/COLLEGE OF SOCIAL SCIENCES, ARTS AND HUMANITIES/Department of Economics

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  • VoR (Version of Record)

Published in

Journal of Mathematical Psychology

Publisher

Elsevier

issn

0022-2496

Copyright date

2016

Available date

2018-03-14

Publisher version

https://www.sciencedirect.com/science/article/pii/S0022249616300669?via=ihub

Notes

The file associated with this record is under a permanent embargo in accordance with the publisher's policy. The full text may be available through the publisher links provided above.

Language

en

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