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Quantum Model of Decision-Making in Economics
Department of Economics, ESB Business School, Reutlingen, Germany
- 1 Department of Economics, ESB Business School, Reutlingen, Germany
Journal of Quantum Information Science·Volume 05 (2015)·Pages 1–5·Published 10 March 2015·DOI10.4236/jqis.2015.51001
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Abstract
The paper designs a quantum model of decision-making (QMDM) that utilizes neuroscientific evidence. The new model provides both normative and positive implications to economics. First, it enhances the study of decision-making which is an extension of the expected utility theory (EUT) in mathematical economics. Second, we demonstrate how the quantum model mitigates drawbacks of the expected utility theory of today.
KeywordsQuantum Theory in EconomicsDecision-MakingUtility Maximization
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