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- W2899450660 abstract "{it Ellsberg thought experiments} and empirical confirmation of Ellsberg preferences pose serious challenges to {it subjective expected utility theory} (SEUT). We have recently elaborated a quantum-theoretic framework for human decisions under uncertainty which satisfactorily copes with the Ellsberg paradox and other puzzles of SEUT. We apply here the quantum-theoretic framework to the {it Ellsberg two-urn example}, showing that the paradox can be explained by assuming a state change of the conceptual entity that is the object of the decision ({it decision-making}, or {it DM}, {it entity}) and representing subjective probabilities by quantum probabilities. We also model the empirical data we collected in a DM test on human participants within the theoretic framework above. The obtained results are relevant, as they provide a line to model real life, e.g., financial and medical, decisions that show the same empirical patterns as the two-urn experiment." @default.
- W2899450660 created "2018-11-09" @default.
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- W2899450660 date "2019-01-28" @default.
- W2899450660 modified "2023-09-25" @default.
- W2899450660 title "Quantum Structures in Human Decision-Making: Towards Quantum Expected Utility" @default.
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- W2899450660 doi "https://doi.org/10.1007/s10773-019-04022-w" @default.
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