@article{Herzog2015, author = {Herzog, Bodo}, title = {Quantum model of decision-making in economics}, journal = {Journal of quantum information science}, volume = {5}, issn = {2162-5751}, doi = {10.4236/jqis.2015.51001}, institution = {ESB Business School}, pages = {1 -- 5}, year = {2015}, abstract = {The paper designs a quantum model of decision-making (QMDM) that utilizes neuroscientific evidence. The new model provides both normative and positive implications to economics. First, it enhances the study of decision-making which is an extension of the expected utility theory (EUT) in mathematical economics. Second, we demonstrate how the quantum model mitigates drawbacks of the expected utility theory of today.}, language = {en} }