An Experimental Comparison of Quantum Decision Theoretical Models of Intertemporal Choice for Gain and Loss

Taiki Takahashi, Hiroshi Nishinaka, Takaki Makino, Ruokang Han, Hiroki Fukui

Department of Behavioral Science, Center for Experimental Research in Social Science, Hokkaido University, Sapporo, Japan.
Department of Forensic Psychiatry, National Institute of Mental Health National Center of Neurology and Psychiatry, Tokyo, Japan.

DOI: 10.4236/jqis.2012.24018                

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.

Keywords

Discounting; Neuroeconomics; Econophysics; Quantum Decision Theory; Tsallis’ Statistics

Conflicts of Interest

The authors declare no conflicts of interest.

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