violations of coalescing (i.e., configural weight theory) instead of violations of compound independence (i.e., rank …Common ratio effects should be ruled out if subjects’ preferences satisfy compound independence, reduction of compound … lotteries, and coalescing. In other words, at least one of these axioms should be violated in order to generate a common ratio …

weak preference ordering. For choice under risk (resp. uncertainty), preferences are assumed to be represented by the … objectively (resp. subjectively) expected value of a von Neumann-Morgenstern utility function. For choice under risk, this implies … concerning behavior in decision trees. Following Cubitt (1996) , these principles include dynamic consistency, separability, and …

We present the first calibration of quantum decision theory (QDT) to an empirical data set. The data comprise 91 …. The prediction of choice reversal is then refined by introducing heterogeneity between decision makers through a … differentiation of the population into two similar sized groups in terms of "over-confident" and "contrarian" decision makers. This …

revealed preference experiment, and without making any parametric assumptions, we show that 1/3 of participants belong in the …

Quantum decision theory (QDT) is a recently developed theory of decision making based on the mathematics of Hilbert … decision making. QDT describes a decision maker's choice as a stochastic event occurring with a probability that is the sum of … subjectivity on decision makers, the quarter law. We examine individual and aggregated (group) data, and find that the results are …