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 …

We investigate various statistical methods for forecasting risky choices and identify important decision predictors …

economy, this paper suggests the two disciplines face a common problem when it comes to uncertainty. It is argued that … intervention, are as yet any nearer to providing robust solutions to the problems posed by Keynesian uncertainty. Under the … radically uncertain conditions, human decision-making (for all its problems) has proved relatively robust, while decision making …

Making decisions under uncertainty is at the core of human decision-making, particularly economic decision-making. In … economics, a distinction is often made between quantifiable uncertainty (risk) and un-quantifiable uncertainty (Knight … uncertainty, through the assumption of subjective probabilities in the mind of the human decision makers (Savage, The Foundations …