The phenomenon of adaptive preferences – sometimes also known under the name of sour grapes – has long caused a stir in Social Theory. In this paper, the precise problem posed by adaptive preferences, as seen from the point of view of a theoretician who intends to model or understand the...

We discuss how the field of Neuroeconomics can be useful to analyze classical economic problems, in Decision Theory and Game Theory. The paper will review some of the results appeared recently, as well an attempt to provide a theory to organize research in htis area

Following the ideas of Bohr, Von Neumann, and Benioff, we formulate quantum decision theory (QDT) as the quantum-mechanical theory of measurement for probability operators. QDT captures the effect of superposition of composite prospects, including many incorporated intentions. It is based on the...

This paper proposes a new decision theory of how individuals make random errors when they compute the expected utility of risky lotteries. When distorted by errors, the expected utility of a lottery never exceeds (falls below) the utility of the highest (lowest) outcome. This assumption implies...

This paper derives a representation of preferences for a choice theory with vague environments; vague in the sense that the agent does not know the precise lotteries over outcomes conditional on states. Instead, he knows only a possible set of these lotteries for each state. Thus, this paper's...

In this article we propose a two stage procedure to model demand decisions by customers who are balancing several dimensions of a product. We then test our procedure by analyzing the behavior of buyers from an Austrian price comparison site. Although in such a market a consumer will typically...