Location of Repository

Elementary Quantum Mechanical Principles and Social Science: Is There a Connection?

By Emmanuel Haven


This paper was published as Romanian Journal of Economic Forecasting, 2008, 9 (1), pp. 41-58. It is also available from the journal website at http://www.ipe.ro/rjef.htm. This paper appears in the LRA with the permission of the Editor, Romanian Journal of Economic Forecasting.In this paper we provide first for a brief overview of some of the work which has been performed on the interface of quantum mechanics and macroscopic systems (such as economics). We then provide for an overview of how such quantum mechanical concepts can enter financial option pricing theory. We round off the paper with some suggestions on where this area of research can be heading in the near future

Publisher: Institute for Economic Forecasting
Year: 2008
OAI identifier: oai:lra.le.ac.uk:2381/8568

Suggested articles



  1. (in press). “Quantum games and their application in biology”,
  2. (1963). A definition of subjective probability”, doi
  3. (2006). A path integral approach to asset-liability management”, doi
  4. (2004). A preliminary evidence of quantum-like behaviour in measurements of mental states”
  5. (1952). A suggested interpretation of the quantum theory in terms of ‘hidden’ variables”, Part I and II; doi
  6. (2002). A theory of non-Gaussian option pricing”, doi
  7. (1978). Advanced mathematical methods for scientists and engineers , doi
  8. (1999). An introduction to econophysics: correlations and complexity in finance”, doi
  9. (1992). An introduction to quantum stochastic calculus”, doi
  10. (2003). An invitation to quantum game theory”,
  11. (2006). An operatorial approach to stock markets”; doi
  12. (2005). Analytical solutions to the backward Kolmogorov PDE via an adiabatic approximation to the Schrödinger PDE”, doi
  13. (1999). Classical and quantum mechanics on information spaces with applications to cognitive, psychological, social and anomalous phenomena”, doi
  14. (2007). Classical and quantum randomness and the financial market”, arXiv: 0704.2865v1 [math.PR].
  15. (1989). Comparative statistics and non-expected utility preferences”, doi
  16. (1974). Core and equilibria of a large economy, doi
  17. (2005). Derivative pricing and hedging for incomplete markets: stochastic arbitrage and adaptive procedure for stochastic volatility”,
  18. (2004). Differentiating Ambiguity and Ambiguity Attitude”, doi
  19. (2006). Does probability interference exist in social science?” doi
  20. (1989). Dynamic consistency and non-expected utility models of choice under uncertainty”,
  21. (1967). Dynamical theories of Brownian motion”, doi
  22. (1971). Essays in the theory of risk bearing, doi
  23. (1987). Hidden Variables and the Implicate Order” in Quantum Implications: Essay in Honour of D. Bohm, edited by B. Hiley and F.Peat,
  24. (2004). Information dynamics in cognitive, psychological and anomalous phenomena”, Ser. Fundamental Theories of Physics, doi
  25. (1989). Maxmin Expected Utility with a Non-Unique Prior” doi
  26. (2007). Model of wealth and goods in a closed market”, doi
  27. Negotiating a market, performing a theory: the historical sociology of a financial derivatives exchange”, doi
  28. (1999). Nelsonian mechanics revisited”,
  29. (2006). Non-classical expected utility theory”, Preprint Paris-Jourdan Sciences Economiques. doi
  30. (2006). Non-classical measurement theory: a framework for the behavioral sciences”, arXiv:
  31. (1989). Non-locality and locality in the stochastic interpretation of quantum mechanics”, doi
  32. (1988). Notes on the theory of choice,
  33. (1951). On stochastic differential equations, doi
  34. (2005). On the classical limit in Bohm’s theory”,
  35. (2002). On the cognitive experiments to test quantum-like behavior of mind”
  36. (2004). Option pricing with Weyl-Titchmarsh theory”, doi
  37. (2001). Physics of Finance: Gauge Modeling in Non-Equilibrium Pricing,
  38. (2005). Pilot-wave theory and financial option pricing”, doi
  39. (2007). Private information and the ‘information function’: a survey of possible uses”, Theory and Decision, doi
  40. (2006). Projective Expected Utility”, doi
  41. (2006). Quantum Bohmian model for financial markets”, doi
  42. (2006). Quantum dynamics of human decision making”, doi
  43. (1999). Quantum economics, uncertainty and the optimal grid size”, doi
  44. (2004). Quantum Finance, doi
  45. (2002). Quantum finance: A quantum approach to stock price fluctuations”,
  46. (1999). Quantum games and quantum strategies”, doi
  47. (2007). Quantum information processing explanation for interactions between inferences and decisions”, Papers from the AAAI Spring Symposium
  48. (1984). Quantum IUto’s formula and stochastic evolutions”, doi
  49. (1998). Quantum mechanical and human violations of compound probability principles: Toward a generalized Heisenberg uncertainty principle”, doi
  50. (2007). Quantum mechanics and rational ignorance”,
  51. (2005). Resolving the trust predicament: a quantum game theoretic approach”, doi
  52. (1961). Risk, Ambiguity and the Savage Axioms”, doi
  53. (1999). Scaling and criticality in a stochastic multi-agent model of a financial market”,
  54. (2005). Stochastic arbitrage returns and its implications for option pricing”, doi
  55. (2000). Stochastic Processes: from Physics to Finance, doi
  56. (1999). Stochastic relaxational dynamics applied to finance: towards nonequilibrium option pricing theory”, doi
  57. (1998). The Black-Scholes pricing formula in the quantum context”, doi
  58. (2004). The cities: reactors of economic transactions”,
  59. (1999). The Entropy Law and the Economic Process, doi
  60. (1954). The Foundations of Statistics”, doi
  61. (2006). The generalized liar paradox: A quantum model and interpretation”. doi
  62. (2007). The importance of probability interference in social science: rationale and experiment”, to be submitted to doi
  63. (1974). The philosophy of quantum mechanics, doi
  64. (1973). The pricing of options and corporate liabilities”, doi
  65. (1993). The quantum theory of motion, doi
  66. (1993). The Undivided Universe, doi
  67. (1947). Theory of games and economic behavior, doi
  68. (1959). Theory of value: an axiomatic analysis of economic equilibrium, doi
  69. (2007). Toward quantum-like modeling of financial processes”, doi
  70. (1990). Understanding quantum physics”,

To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.