Article ID Journal Published Year Pages File Type
972110 Mathematical Social Sciences 2008 26 Pages PDF
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 characterized by her 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.

Related Topics
Physical Sciences and Engineering Mathematics Applied Mathematics
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