We propose a new parametrization of Quantum Decision Theory (QDT), based on Rank Dependent Utility Theory (RDU). Using … experimental data made of choices between pairs of lotteries, we compare QDT with "classical" decision theories, RDU and Cumulative … decision makers as either RDU, RDU-based QDT, CPT or CPT-based QDT. Our major findings are the following: the quantum …

(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 …

Prospect theory (PT) is the dominant descriptive theory of decision making under risk today. For the modeling of …

Quantum decision theory (QDT) is a recently developed theory of decision making based on the mathematics of Hilbert … decision making. QDT describes a decision maker's choice as a stochastic event occurring with a probability that is the sum of … an objective utility factor and a subjective attraction factor. QDT offers a prediction for the average effect of …

I experimentally examine whether feedback about others' choices provides an anchor for decision-making under ambiguity …

decision errors can explain or be highly correlated with hyperbolic discounting and non-linear (inverse-S-shaped) probability … weighting. We find evidence that decision errors are strongly correlated with hyperbolic discounting but do not find that … decision errors are correlated with the strong inverse-S-shaped probability weighting (w(p)) patterns in our two samples. We …