Decision under risk and uncertainty (probabilistic choice) has been attracting attention in econophysics and neuroeconomics. This paper proposes a probabilistic choice model based on a mathematical equivalence of delay and uncertainty in decision-making, and the deformed algebra developed in the Tsallis' non-extensive thermodynamics. Furthermore, it is shown that this model can be utilized to q...

This chapter offers evidence that as a means of understanding the functional and evolutionary biology of the primates, mathematical models are at least worth their weight in paper. The basic idea of mathematical models and the possibilities and the limits of their usefulness are outlined in Section 1, "Mathematical Models." As morphological arguments for evolutionary conclusions have become bet...

Mathematical theory of voting and social choice has attracted much attention. In the general setting one can view social choice as a method of aggregating individual, often conflicting preferences and making a choice that is the best compromise. How preferences are expressed and what is the “best compromise” varies and heavily depends on a particular situation. The method we propose in this pap...

This paper offers a short introduction to some of the fundamental results of social choice theory. Topices include: Nash implementability and the Muller-Satterthwaite impossibility theorem, anonymous and neutral social choice correspondences, two-party competition in tournaments, binary agendas and the top cycle, and median voter theorems. The paper begins with a simple example to illustrate th...

We examine the impact of a desire for social approval on education and occupation choice and model the endogenous determination of perceptions that influence such approval. In a two-sector overlapping generations framework, agents born with ability endowments in both occupations must choose one as their career. An agent’s choice is influenced by social approval, which depends upon the community...

People make numerous decisions every day including perceptual decisions such as walking through a crowd, decisions over primary rewards such as what to eat, and social decisions that require balancing own and others' benefits. The unifying principles behind choices in various domains are, however, still not well understood. Mathematical models that describe choice behavior in specific contexts ...