Share This Article:

An Experimental Comparison of Quantum Decision Theoretical Models of Intertemporal Choice for Gain and Loss

Abstract Full-Text HTML Download Download as PDF (Size:137KB) PP. 119-122
DOI: 10.4236/jqis.2012.24018    3,310 Downloads   5,605 Views  

ABSTRACT

In mathematical physics and psychology, “quantum decision theory” has been proposed to explain anomalies in human decision-making. One of such quantum models has been proposed to explain time inconsistency in human decision over time. In this study, we conducted a behavioral experiment to examine which quantum decision models best account for human intertemporal choice. We observed that a q-exponential model developed in Tsallis’ thermodynamics (based on Takahashi’s (2005) nonlinear time perception theory) best fit human behavioral data for both gain and loss, among other quantum decision models.

Conflicts of Interest

The authors declare no conflicts of interest.

Cite this paper

T. Takahashi, H. Nishinaka, T. Makino, R. Han and H. Fukui, "An Experimental Comparison of Quantum Decision Theoretical Models of Intertemporal Choice for Gain and Loss," Journal of Quantum Information Science, Vol. 2 No. 4, 2012, pp. 119-122. doi: 10.4236/jqis.2012.24018.

References

[1] V. I. Yukalov and D. Sornette, “Physics of Risk and Uncertainty in Quantum Decision Making,” The European Physical Journal B, Vol. 71, No. 4, 2009, pp. 533-548. doi:10.1140/epjb/e2009-00245-9
[2] D. O. Cajueiro, “A Note on the Relevance of the q-Exponential Function in the Context of Intertemporal Choices,” Physica A: Statistical Mechanics and Its Applications, Vol. 364, 2006, pp. 385-388.
[3] T. Takahashi, “A Comparison of Intertemporal Choices for Oneself versus Someone Else Based on Tsallis’ Statistics,” Physica A: Statistical Mechanics and Its Applications, Vol. 385, 2007, pp. 637-644.
[4] T. Takahashi, H. Oono and M. H. Radford, “Empirical Estimation of Consistency Parameter in Intertemporal Choice Based on Tsallis’ Statistics,” Physica A: Statistical Mechanics and its Applications, Vol. 381, 2007, pp. 338-342.
[5] T. Takahashi, “Theoretical Frameworks for Neuroeconomics of Intertemporal Choice,” Journal of Neuroscience, Psychology, and Economics, Vol. 2, No. 2, 2009, pp. 75-90. doi:10.1037/a0015463
[6] S. Frederick, T. Loewenstein and T. O’Donoghue, “Time Discounting and Time Preference: A Critical Review,” Journal of Economic Literature, Vol. 40, No. 2, 2002, pp. 351-401. doi:10.1257/002205102320161311
[7] J. R. Busemeyer, E. M. Pothos, R. Franco and J. Trueblood, “A Quantum Theoretical Explanation for Probability Judgment Errors,” Psychological Review, Vol. 118, No. 2, 2011, pp. 193-218. doi:10.1037/a0022542
[8] T.Cheon and T. Takahashi, “Interference and Inequality in Quantum Decision Theory,” Physics Letters A, Vol. 375, No. 2, 2010, pp. 100-104. doi:10.1016/j.physleta.2010.10.063
[9] A. Khrennikov, “Ubiquitous Quantum Structure,” Springer, Berlin, 2010.
[10] T. Takahashi, “Loss of Self-Control in Intertemporal Choice May Be Attributable to Logarithmic Time-Perception,” Medical Hypotheses, Vol. 65, No. 4, 2005, pp. 691-693. doi:10.1016/j.mehy.2005.04.040
[11] P. A. Samuelson, “A Note on Measurement of Utility,” The Review of Economic Studies, Vol. 4, 1937, pp. 155-161. doi:10.2307/2967612
[12] C. Tsallis, C. Anteneodo, L. Borland and R. Osorio, “Nonextensive Statistical Mechanics and Economics,” Physica A: Statistical Mechanics and Its Applications, Vol. 324, 2003, pp. 89-100.
[13] P. D. Sozou, “On Hyperbolic Discounting and Uncertain Hazard Rates,” Proceeding of the Royal Society B Biological Sciences, Vol. 265, 1998, pp. 2015-2020.
[14] T. Takahashi, K. Ikeda and T. Hasegawa, “A Hyperbolic Decay of Subjective Probability of Obtaining Delayed Rewards,” Behavioral and Brain Functions, Vol. 3, 2007, p. 52. doi:10.1186/1744-9081-3-52
[15] T. Takahashi, H. Oono and M. H. B. Radford, “Psychophysics of Time Perception and Intertemporal Choice Models,” Physica A: Statistical Mechanics and Its Applications, Vol. 87, No. 8-9, 2008, pp. 2066-2074.
[16] R. Han and T. Takahashi, “Psychophysics of Time Perception and Valuation in Temporal Discounting of Gain and Loss,” Physica A: Statistical Mechanics and Its Applications, Vol. 391, 2012, pp. 6568-6576.

  
comments powered by Disqus

Copyright © 2018 by authors and Scientific Research Publishing Inc.

Creative Commons License

This work and the related PDF file are licensed under a Creative Commons Attribution 4.0 International License.