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Journal of Mathematical Economics

Modeling the act of measurement in the social sciences

Ted Temzelides

Published Jun 5, 2010• 3 citations
Publisher
DOI
10.1016/j.jmateco.2010.05.003

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Recently, the methods of quantum theory, especially quantum information, started to be widely applied outside of physics: in cognitive, social sciences, economics, finance, decision making and biology. We propose a quantum-like model: the “information laser”. The basic assumption is the discrete structure of state spaces related to the quantization of information. The information field acts in the form of indistinguishable quanta of “social energy” analogue to photons. The massive flow of information acts as a laser pump. In this framework, an information selection process by agents under constant pressure of massive repeated information leads to collective “resonance” effects in analogy with laser cavity and stimulated emission. In order to make operational parallels between physical lasers and the information laser we identify the essential features of laser operation. An application to the analysis of recent disruptive social events (colour revolutions) is discussed. Social analogues to the laser are also considered through the model of Echo Chambers induced by the Internet and Adam Smith’s invisible hand.