experiments. Contrary to the traditional view of expected utility theory, the choices can be explained in large part by previous … outcomes experienced during the game. Risk aversion decreases after earlier expectations have been shattered by unfavorable … outcomes or surpassed by favorable outcomes. Our results point to reference-dependent choice theories such as prospect theory …

the strategic situation. Thus there is genuine strategic uncertainty, a situation where decision-makers are uncertain of … change prices, too. Economists wishing to maintain rationality of price-setters resorted to fixed price adjustment costs as … the strategies of other decision-makers. Hesitation may lead to inaction. To model this situation we follow the style of …

This paper presents a new attempt to explore people's cooperative behavior under the natural uncertainty in decision … uncertainty in human behavior by expanding the strategic space. In this paper we extend the quantum decision-making model to a two …-player Prisoner's dilemma game by bringing in the evolutional decision operators with quantum phases. These quantum phases, following …