general discounted utility model which encompasses the main empirically supported discounted utility models. We show that our … axioms on preferences are satisfied in our general discounted utility model. Finally, we discuss the various explanations of …

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 …

(subjective) probabilities weight multiplicatively the utilities of the alternatives offered to the decision maker, although … evidence suggest that probability weights and utilities are often not separable in the mind of the decision maker. In this … context, we introduce a simple and efficient framework on how to describe the inherently probabilistic human decision …