Quantum phenomenology of conjunction fallacy

TL;DR

This paper introduces a quantum-like framework for modeling human decision-making, successfully explaining the conjunction fallacy and violation of the sure-thing principle through a unified phenomenological approach.

Contribution

It develops a quantum phenomenological model that quantitatively accounts for the conjunction fallacy and related decision-making anomalies.

Findings

Quantum-like model explains conjunction fallacy

Model accounts for violation of sure-thing principle

Provides a unified phenomenological explanation

Abstract

A quantum-like description of human decision process is developed, and a heuristic argument supporting the theory as sound phenomenology is given. It is shown to be capable of quantitatively explaining the conjunction fallacy in the same footing as the violation of sure-thing principle.