Year: 2006
Type: preprint
Abstract: Individual choices often depend on the order in which the decisions are made. In this paper, we expose a general theory of measurable systems (an example of which is an individual's preferences) allowing for incompatible (non-commuting) measurements. The basic concepts are illustrated in an example of non-classical rational choice. We conclude with a discussion of some of the basic properties of non-classical systems in the context of social sciences. In particular, we argue that the distinctive feature of non-classical systems translates into a formulation of bounded rationality.
Source: arXiv (Cornell University)
Authors: Danilov, V. I., Lambert-Mogiliansky, A.
Institutions: Russian Academy of Sciences, Central Economics and Mathematics Institute, Centre National de la Recherche Scientifique, École nationale des ponts et chaussées, École Normale Supérieure - PSL, Paris Jourdan Sciences Economiques, Paris School of Economics, École des hautes études en sciences sociales
Language: English
Subfield: General Decision Sciences
Field: Decision Sciences
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W2952507879