This paper tallies the links between fluid mechanics and quantum mechanics, and attempts to show whether those links can aid in beginning to build a formal template which is usable in economics models where time is (a)symmetric and memory is absent or present. An objective of this paper is to contemplate whether those formalisms can allow us to model information in economics in a novel way.
This paper tallies the links between fluid mechanics and quantum mechanics, and attempts to show whether those links can aid in beginning to build a formal template which is usable in economics models where time is (a)symmetric and memory is absent or present. An objective of this paper is to contemplate whether those formalisms can allow us to model information in economics in a novel way.
The authors show how the formal framework of quantum mechanics arises in economics generally and in financial economics in particular as a natural consequence of an information-theoretic approach to these fields. Specifically, extremizing Fisher information, subject to the constraint that the associated probability density reproduces observed economic phenomena, results in Schrödinger-like equations. The authors illustrate the utility of this approach with examples from financial economics. As an emergent consequence of information theory, the use of quantum formalism in economics can be seen as a powerful approach for understanding complex dynamics grounded in the probabilistic view of economics advocated by Knight and Keynes. These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
Mathematical formalism of quantum mechanics: brief introduction In this chapter, we present basic notions of quantum mechanics, and we emphasize “quantum mathematics.” To posit that the mathematical formalism of quantum mechanics can be used outside of quantum physics (as in sociology, economics, or finance) may be of interest. If one can steer away from merely positing and veer instead into convincing the reader that such a position is tenable, then some achievement has been booked. But the price to pay is that the formalism of quantum mechanics needs to be uncovered: how else can one judge whether what we posit is senseful? Thus, a reader can either (i) formally accept our viewpoint about the quantum-like paradigm (see Khrennikov [1]), or (ii) ask for a detailed analysis of the quantum foundations which would justify this paradigm. In the first case, it may well be sufficient to skip this chapter (but we should suggest to attempt to include Chapter 3). In the second case, we invite especially those readers who are concerned about the fact that the formal usage of the mathematical formalism of quantum mechanics may transfer major problems of quantum foundations to social science, economics, and finance, to read the present chapter carefully.
Quantum information is an emerging field which has attracted a lot of attention in the last fifteen years or so. It is a broad subject which covers from the most applied questions (e.g., how to build quantum computers or secure cryptographic systems), to the most theoretical problems concerning the formalism of quantum mechanics, its complexity, and its potential to go beyond classical physics. I have written these notes as an introduction to the formalism of quantum information, trying to show how it is a natural progression from an undergraduate course on quantum mechanics (just as I felt it was for me). Hence, these are mainly notes about the language of quantum information and the meaning of its terms, not about its applications. They do not intend to be an exhaustive review about the field, but just a logical sequence of ideas, concepts and definitions, building up towards the continuous variables formalism, which actually takes over most of the notes. In this way, most of the results are stated without proof, and I haven't been careful with references; this is a work in progress, and I intend to add such things in the future. In any case, most of the topics that I introduce have been thoroughly covered in previous books and reviews, and with this notes I only intend to give my point of view, as well as to introduce the different topics and objects in exactly the way I work with and think about them, hoping it will be useful, especially for the people who are starting in the field. These notes originated in 2010 as a way of studying for my close collaboration with Raúl García-Patrón and Nicolas J. Cerf, to whom I am deeply grateful for guidance and incredibly clarifying discussions. They benefited greatly as well from the weeks I spent in Doha with Hyunchul Nha and his group in 2012, especially from discussions with him and Ho-Joon Kim.
A new constructivist approach to modeling in economics and theory of consciousness is proposed. The state of elementary object is defined as a set of its measurable consumer properties. A proprietor's refusal or consent for the offered transaction is considered as a result of elementary economic measurement. We were also able to obtain the classical interpretation of the quantum-mechanical law of addition of probabilities by introducing a number of new notions. The principle of "local equity" assumes the transaction completed (regardless of the result) of the states of transaction partners are not changed in connection with the reception of new information on proposed offers or adopted decisions (consent or refusal of the transaction). However it has no relation to the paradoxes of quantum theory connected with non-local interaction of entangled states. In the economic systems the mechanism of entangling has a classical interpretation, while the quantum-mechanical formalism of the description of states appears as a result of idealization of the selection mechanism in the proprietor's consciousness.
Quantum mechanics (QM) has taken on a paradigmatic role in how physics describes and builds new knowledge about the world. It also has a growing role in our society thanks to recent and rapid developments in the field of new quantum technologies. These are becoming increasingly important in our society, in the world of work and which will also decisively influence future socio-economic choices. Also for this reason QM has an increasing role in the education of young people and has been introduced in many different ways also in secondary school in all continents. The change in the theoretical and cultural frame has profound implications that are often not intuitive, which involve the appropriation of a specific way of thinking. Neither macroscopic phenomenology, nor intuition help, because there is no simple evidence of how quantum objects must be thought to interpret that unobservable microscopic world and for which we must enter another interpretative paradigm even if we want to limit ourselves to describe it. PER has carried out several studies on the learning of key concepts, on the learning nodes, the ways of reasoning, the difficulties of the students, their spontaneous ideas, according to two main strands: above all at university level, conceptual difficulties and misunderstandings often linked to a formal approach, which, moreover, underpins the very nature of the entities involved; at secondary school level in relation to how students acquire a quantum view of phenomena on the basis of specific approaches adopted to address QM. In particular, a vast literature, which has increased considerably and especially in relatively recent times, has studied how university students deal with certain concepts such as that of state, superposition, measurement in quantum mechanics rather than how quantum quantities evolve over time. These studies are based on the use of questionnaires that allow to explore different levels: the verbal, formal and representative one, with different representations (eg. wave function, Dirac notation), rather than different representative modes (eg. Graphs of probability amplitudes, or probability distributions). At the secondary school level, the most important studies on student learning were instead conducted evaluating the educational impact and outlining the learning paths of students who had followed formative activities based on differentiated innovative research-based educational paths. In particular, the learning outcomes were compared to those activated by proposals based on the historical reconstruction approach of quantum physics. This approach is privileged in traditional curricula and school texts and consequently in the ways of teachers approaching the topic. It was developed in schools with a narrative or descriptive dimension of solutions based on old physics of quanta for the interpretation of phenomena not explained by classical physics. The innovative approaches instead make use of contexts whose formal treatment is simple (quantum properties described in a two-state space such as polarization or spin) with the aid of simulations that compensate for the problem of students” limited mathematical-formal skills, avoiding any historical reference. In particular, there is a significant difference between the survey tools and the survey contexts in the high school environment compared to surveys conducted with university students. This paper presents a review of the research literature, focusing in particular on the learning processes of secondary school students and outlining how research perspectives have evolved.