We present the first calibration of quantum decision theory (QDT) to an empirical data set. The data comprise 91 …. The prediction of choice reversal is then refined by introducing heterogeneity between decision makers through a … differentiation of the population into two similar sized groups in terms of "over-confident" and "contrarian" decision makers. This …

This paper compares Bayesian decision theory with robust decision theory where the decision maker optimizes with … respect to the worst state realization. For a class of robust decision problems there exists a sequence of Bayesian decision … risk aversion and that decisions are insensitive (robust) to the precise assignment of prior probabilities. This holds …

averse to risk and ambiguity. The evidence is largely correlational, however, leaving open the question of the direction of … causality. In this paper, we present experimental evidence of causation running from reliance on intuition to risk and ambiguity … lowers the probability of being ambiguity averse by 30 percentage points and increases risk tolerance by about 30 percent in …

This book offers a self-contained introduction to the world of robust combinatorial optimization. It explores decision …