We propose a new parametrization of Quantum Decision Theory (QDT), based on Rank Dependent Utility Theory (RDU). Using … experimental data made of choices between pairs of lotteries, we compare QDT with "classical" decision theories, RDU and Cumulative … decision makers as either RDU, RDU-based QDT, CPT or CPT-based QDT. Our major findings are the following: the quantum …

expect a decision maker to distinguish between different time periods or different prizes? Our key premise is that cognitive …

behavior in many important domains such as financial decision-making. However, there is little empirical evidence on its causes … which a decision-maker has difficulties assigning a single probability to each possible event - as a potential determinant …

concerning behavior in decision trees. Following Cubitt (1996) , these principles include dynamic consistency, separability, and … subtrees as well as entire decision trees. Examples of behavior violating these principles are also reviewed, as are possible …

We present a preference foundation for Chance Theory (CT), a model of decision making under uncertainty where the … rationality principles like first-order stochastic dominance or transitivity. Decision makers with CT-preferences always prefer …

experiment where the decision maker draws twice with replacement in the typical Ellsberg two-color urns, but with a different … utility all predict unequivocally that risk-averse decision makers (DMs) will avoid the 50 - 50 urn that exhibits the highest …