Decision theory with a Hilbert space as possibility space

Jürgen Eichberger and Hans Jürgen Pirner

In this paper, we propose an interpretation of the Hilbert space method used in quantum theory in the context of decision making under uncertainty. For a clear comparison we will stay as close as possible to the framework of SEU suggested by Savage (1954). We will use the Ellsberg (1961) paradox to illustrate the potential of our approach to deal with well-known paradoxa of decision theory.

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Year of publication:	July 19, 2017
Authors:	Eichberger, Jürgen ; Pirner, Hans J.
Publisher:	Heidelberg : University of Heidelberg, Department of Economics
Subject:	Decision theory \| uncertainty \| Ellsberg paradox \| quantum theory \| Hilbert space \| possibility space \| Entscheidungstheorie \| Entscheidung unter Unsicherheit \| Decision under uncertainty

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Extent:	1 Online-Ressource (23 Seiten)
Series:	Discussion paper series / University of Heidelberg, Department of Economics. - Heidelberg : [Verlag nicht ermittelbar], ZDB-ID 2217357-2. - Vol. no. 637
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Arbeitspapier ; Working Paper ; Graue Literatur ; Non-commercial literature
Language:	English
Other identifiers:	hdl:10419/179267 [Handle]
Classification:	C00 - Mathematical and Quantitative Methods. General ; C44 - Statistical Decision Theory; Operations Research ; D03 - Behavioral Economics; Underlying Principles ; D81 - Criteria for Decision-Making under Risk and Uncertainty
Source:	ECONIS - Online Catalogue of the ZBW

Persistent link: https://www.econbiz.de/10011745366