2015
DOI: 10.1037/dec0000017
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Bayesian model comparison favors quantum over standard decision theory account of dynamic inconsistency.

Abstract: Many paradoxical findings in decision-making that have resisted explanations by standard decision theories have accumulated over the past 50 years. Recent advances based on quantum probability theory have successfully accounted for many of these puzzling findings. Critics, however, claim that quantum probability theory is less constrained than standard probability theory, and hence quantum models only fit better because they are more complex than standard decision models. In this article, for the first time, a… Show more

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Cited by 40 publications
(33 citation statements)
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References 39 publications
(61 reference statements)
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“…The axioms of the classical probability theory, such as the axiom of Boolean logic and the law of total probability, do not always hold in the framework of quantum probability. On the other hand, recent work using the Bayesian model comparison method has revealed that the quantum cognition model with an interference term is more competitive with its accuracy, parsimony and robustness [15,16].…”
Section: Introductionmentioning
confidence: 99%
“…The axioms of the classical probability theory, such as the axiom of Boolean logic and the law of total probability, do not always hold in the framework of quantum probability. On the other hand, recent work using the Bayesian model comparison method has revealed that the quantum cognition model with an interference term is more competitive with its accuracy, parsimony and robustness [15,16].…”
Section: Introductionmentioning
confidence: 99%
“…The Bayesian model comparison method evaluates models with respect to their accuracy, parsimony, and robustness. In the model comparison [61], the Bayes factor strongly favored the quantum model over the traditional decision models, suggesting the quantum model is more accurate and robust without being more complex than models based on classical probability theory.…”
Section: Violations Of Rational Decision Makingmentioning
confidence: 98%
“…Critics might argue that the ability of quantum models to account for all these findings relies on being more complex than their traditional counterparts. This criticism has been directly addressed by performing a rigorous quantitative comparison of quantum versus previously successful traditional, classical decision models using a Bayesian model comparison method [61]. Note that model complexity depends not only on the number of model parameters but also on its functional flexibility [62].…”
Section: Violations Of Rational Decision Makingmentioning
confidence: 99%
“…In this sense, psychological (and cognitive) models benefit from the usage of quantum probability principles because they have many advantages over classical counterparts [15]. They can represent events in vector spaces through a superposition state, which comprises the occurrence of all events at the same time.…”
Section: Introductionmentioning
confidence: 99%