In Decision Space: Multidimensional Utility Analysis, first published in 2001, Paul Weirich increases the power and versatility of utility analysis and in the process advances decision theory. Combining traditional and novel methods of option evaluation into one systematic method of analysis, multidimensional utility analysis is a valuable tool. It provides formulations of important decision principles, such as the principle to maximize expected utility; enriches decision theory in solving recalcitrant decision problems; and provides in particular for the cases in which an (...) expert must make a decision for a group of people. The multiple dimensions of this analysis create a decision space broad enough to accommodate all factors affecting an option's utility. The book will be of interest to advanced students and professionals working in the subject of decision theory, as well as to economists and other social scientists. (shrink)

"The Quantum Brain is the first great book of the 21st century-and the first definitively 21st century book. It will be read with admiration and amazement."-George Gilder, bestselling author and publisher of the Gilder Technology Report "Many authors have written about one or two of the topics covered in The Quantum Brain. Jeffrey Satinover's book is unique in trying to tie everything together."-Michael E. Kellman, Professor of Theoretical Chemistry, University of Oregon "Thoroughly researched... and told as a gripping tale, thanks (...) to Dr. Satinover's... gift for the narrative. A marvelous introduction to the most fascinating question the human brain can address: its own working."-R. Shankar, Professor of Physics and Applied Physics, Yale University "A thrilling journey through the world of brain research. The author has set new standards for popular science writing by making arcane topics... easy to follow. A tapestry of insights."-Jack Tuszynski, Professor of Physics, University of Alberta "I wish I had written this visionary book."-Professor Hugo de Garis, Head, Starbrain Project, Starlab's Artificial Brain Project. (shrink)

This article examines the effects of uncertainty aversion in competitive call option markets using a partial equilibrium model with the Choquet-expected utility setup. We find that the trading volume of a call option is negatively affected by uncertainty aversion, whereas the price of the call is practically independent of it.

Classic analysis of the subject and the development of personal probability; one of the greatest controversies in modern statistcal thought.

THE PRINCIPLE OF SUPERPOSITION. The need for a quantum theory Classical mechanics has been developed continuously from the time of Newton and applied to an ...

It is easy to construct pairs of sentences X, Y that lead many people to ascribe higher probability to the conjunction X-and-Y than to the conjuncts X, Y. Whether an error is thereby committed depends on reasoners’ interpretation of the expressions “probability” and “and.” We report two experiments designed to clarify the normative status of typical responses to conjunction problems. © 2004 Cognitive Science Society, Inc. All rights reserved.

We provide a critical assessment of the ambiguity aversion literature, which we characterize in terms of the view that Ellsberg choices are rational responses to ambiguity, to be explained by relaxing Savage's Sure-Thing principle and adding an ambiguity-aversion postulate. First, admitting Ellsberg choices as rational leads to behaviour, such as sensitivity to irrelevant sunk cost, or aversion to information, which most economists would consider absurd or irrational. Second, we argue that the mathematical objects referred to as “beliefs” in the ambiguity (...) aversion literature have little to do with how an economist or game theorist understands and uses the concept. This is because of the lack of a useful notion of updating. Third, the anomaly of the Ellsberg choices can be explained simply and without tampering with the foundations of choice theory. These choices can arise when decision makers form heuristics that serve them well in real-life situations where odds are manipulable, and misapply them to experimental settings. (shrink)

We review the dissipative quantum model of the brain and present recent developments related to the role of entanglement, quantum noise and chaos in the model.

In this book, which contains several of his key papers as well as new material, he focuses on the problem of consciousness and explains how quantum mechanics...

The thirty-five chapters in this book describe various judgmental heuristics and the biases they produce, not only in laboratory experiments but in important...

Winner of the Wolf Prize for his contribution to our understanding of the universe, Penrose takes on the question of whether artificial intelligence will ever ...

The book is an extended study of the problem of consciousness. After setting up the problem, I argue that reductive explanation of consciousness is impossible , and that if one takes consciousness seriously, one has to go beyond a strict materialist framework. In the second half of the book, I move toward a positive theory of consciousness with fundamental laws linking the physical and the experiential in a systematic way. Finally, I use the ideas and arguments developed earlier to defend (...) a form of strong artificial intelligence and to analyze some problems in the foundations of quantum mechanics. (shrink)

It is easy to construct pairs of sentences X, Y that lead many people to ascribe higher probability to the conjunction X‐and‐Y than to the conjuncts X, Y. Whether an error is thereby committed depends on reasoners' interpretation of the expressions “probability” and “and.” We report two experiments designed to clarify the normative status of typical responses to conjunction problems.

The Fourth Edition of this long-established text retains all the key features of the previous editions, covering the basic topics of a solid first course in ...

This paper reports the results of experiments designed to test whether and to what extent individuals succumb to the conjunction fallacy. Using the Kahneman and Tversky experimental design, we find that given mild incentives, the proportion of individuals who violate the conjunction principle is significantly lower than that reported by Kahneman and Tversky. Moreover, when subjects are allowed to consult with other subjects, these proportions fall dramatically, particularly when the size of the group rises from two to three. These findings (...) cast serious doubts about the importance and robustness of such violations for the understanding of real-life economic decisions. (shrink)

The concepts of complementarity and entanglement are considered with respect to their significance in and beyond physics. A formally generalized, weak version of quantum theory, more general than ordinary quantum theory of physical systems, is outlined and tentatively applied to two examples.

Proposals for quantum computation rely on superposed states implementing multiple computations simultaneously, in parallel, according to quantum linear superposition (e.g., Benioff, 1982; Feynman, 1986; Deutsch, 1985, Deutsch and Josza, 1992). In principle, quantum computation is capable of specific applications beyond the reach of classical computing (e.g., Shor, 1994). A number of technological systems aimed at realizing these proposals have been suggested and are being evaluated as possible substrates for quantum computers (e.g. trapped ions, electron spins, quantum dots, nuclear spins, etc., (...) see Table 1; Bennett, 1995; and Barenco, 1995). The main obstacle to realization of quantum computation is the problem of interfacing to the system (input, output) while also protecting the quantum state from environmental decoherence. If this problem can be overcome, then present day classical computers may evolve to quantum computers. (shrink)

The paper reviews the current situation regarding a new theory of brain dynamics put forward by the authors in an earlier publication. Motivation for the theory is discussed in terms of two issues: the long-standing problem of accounting for the stability and nonlocal properties of memory, and the experimental and theoretical evidence against the classical theory of brain action. It is shown that the new theory provides an explanation and a conceptually unifying framework for phenomena of brain action that resist (...) classical explanation. Further independent experiments provide strong additional support for the theory. The fact that this theory incorporates quantum mechanisms in an essential way is considered to be of wide scientific interest in view of the unique status of the brain in relation to the physical, biological, and mental orders in nature. (shrink)

This contribution explores Wolfgang Pauli's idea that mind and matter are complementary aspects of the same reality. We adopt the working hypothesis that there is an undivided timeless primordial reality (the primordial "one world''). Breaking its symmetry, we obtain a contextual description of the holistic reality in terms of two categorically different domains, one tensed and the other tenseless. The tensed domain includes, in addition to tensed time, nonmaterial processes and mental events. The tenseless domain refers to matter and physical (...) energy. This concept implies that mind cannot be reduced to matter, and that matter cannot be reduced to mind. The non-Boolean logical framework of modern quantum theory is general enough to implement this idea. Time is not taken to be an a priori concept, but an archetypal acausal order is assumed which can be represented by a one-parameter group of automorphisms, generating a time operator which parametrizes all processes, whether material or nonmaterial. The time-reversal symmetry is broken in the nonmaterial domain, resulting in a universal direction of time for the material domain as well. (shrink)

How is mind related to matter? This ancient question in philosophy is rapidly becoming a core problem in science, perhaps the most important of all because it probes the essential nature of man himself. The origin of the problem is a conflict between the mechanical conception of human beings that arises from the precepts of classical physical theory and the very different idea that arises from our intuition: the former reduces each of us to an automaton, while the latter allows (...) our thoughts to guide our actions. The dominant contemporary approaches to the problem attempt to resolve this conflict by clinging to the classical concepts, and trying to explain away our misleading intuition. But a detailed argument given here shows why, in a scientific approach to this problem, it is necessary to use the more basic principles of quantum physics, which bring the observer into the dynamics, rather than to accept classical precepts that are profoundly incorrect precisely at the crucial point of the role of human consciousness in the dynamics of human brains. Adherence to the quantum principles yields a dynamical theory of the mind/brain/body system that is in close accord with our intuitive idea of what we are. In particular, the need for a self-observing quantum system to pose certain questions creates a causal opening that allows mind/brain dynamics to have three distinguishable but interlocked causal processes, one micro-local, one stochastic, and the third experiential. Passing to the classical limit in which the critical difference between zero and the finite actual value of Planck's constant is ignored not only eliminates the chemical processes that are absolutely crucial to the functioning of actual brains, it simultaneously blinds the resulting theoretical construct to the physical fine structure wherein the effect of mind on matter lies: the use of this limit in this context is totally unjustified from a physics perspective. (shrink)

body. While the latter areas are discussed mainly in fields such as the philosophy of mind, cognitive Many philosophical and scientific discussions of top-.