Individual and Collective Trade-offs In Small World Decisions

• Main Authors: Sen, Prabir, MA, Nang Laik
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2014
• Subjects: decision making; small-world decisions; dynamic processes; dynamic decision; quantum decision theory; Computer Sciences
• Online Access: https://ink.library.smu.edu.sg/sis_research/2444
• Institution: Singapore Management University

Clearly, building products, services and applications in an environment of increasingly numerous, heterogeneous, dynamic and error-prone communication devices poses enormous technical challenges in terms of scalability, complexity, efficiency, manageability and robustness. It is frequently argued that, in order to cope with these challenges, computing technologies need to adopt some of the remarkable self-organization, self-adaptation and self-consistent qualities of small world network systems [1][2]. The self-consistent procedure of decision making in the frame of the quantum decision theory, takes into account both the available objective information as well as subjective contextual effects. In this paper, we are proposing this quantum approach avoids any paradox typical of classical decision theory.