Quantum Economics
Quantum economics, challenges the status quo by relying on models that reflect the more complex and dualistic nature of economic elements, akin to the wave-particle duality observed in quantum particles.
“I think when you consider the ‘bit’ of a traditional computer, it’s all about a zero or a one,” said Orrell.
“It’s essentially a ‘yes’ or ‘no,’ a logical, straightforward decision-making process.
There’s no room for nuances or subtleties.
However, when you shift to considering a qubit, it changes your perspective entirely.
A qubit can be likened to a spectrum of colors, offering different shades and complexities.
It’s not just zero or one.
Qubits are entangled; they interact with each other, introducing uncertainty upon measurement.
This fundamental difference is what sets it apart.
And as I’ve mentioned, demonstrating that models based on this principle can be profitable and effective is the key point.”
The Quantum Economics and Finance journal, which employs a single-blind peer-review process, provides scientists an opportunity to present and discuss findings at the intersection of quantum methods and economics.
The journal covers
- quantum computational/algorithmic aspects in finance,
- applications of the quantum formalism to derivative pricing and financial economics economic decision making.
https://thequantuminsider.com/2024/02/20/quantum-economics-could-a-new-economic-paradigm-be-guided-by-quantum-models/
