Models of intertemporal choice (2016)
Authors
Abstract
In mathematical physics and psychology, "quantum decision theory" has been proposed to explain anomalies in human decision-making. One of such quantum models has been proposed to explain time inconsistency in human decision over time. In this study, we conducted a behavioral experiment to examine which quantum decision models best account for human intertemporal choice. We observed that a q-exponential model developed in Tsallis' thermodynamics (based on Takahashi's (2005) nonlinear time perception theory) best fit human behavioral data for both gain and loss, among other quantum decision models.
Bibliographic entry
Dai, J., & Busemeyer, J. R. (2016). Models of intertemporal choice. In J. W. Houpt & L. M. Blaha (Eds.), Mathematical models of perception and cognition: A Festschrift for James T. Townsend (Scientific Psychology No. 23) (Vol. 1, pp. 152-170). New York: Routledge.
Miscellaneous
| Publication year | 2016 | |
|---|---|---|
| Document type: | In book | |
| Publication status: | Published | |
| External URL: | ||
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| Keywords: | discountingeconophysicsneuroeconomicsquantum decision theorytsallis' statistics |