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The editorial in the inaugural issue of the journal Quantum Economics and Finance says: "Quantum economics and finance is the application of probability based on projective geometry—also known as quantum probability—to modelling in economics and finance. It draws on related areas such as quantum cognition, quantum game theory, quantum ...
Quantum finance is an interdisciplinary research field, applying theories and methods developed by quantum physicists and economists in order to solve problems in finance. It is a branch of econophysics .
Orrell is considered a leading proponent of quantum finance and quantum economics. [5] In The Evolution of Money [6] (coauthored with journalist Roman Chlupatý) and a series of articles [7] [8] [9] he proposed a quantum theory of money and value, which states that money has dualistic properties because it combines the properties of an owned and valued thing, with those of abstract number.
Wiesner's quantum money scheme was first published in 1983. [1] A formal proof of security, using techniques from semidefinite programming, was given in 2013. [2]In addition to a unique serial number on each bank note (these notes are actually more like cheques, since a verification step with the bank is required for each transaction), there is a series of isolated two-state quantum systems. [3]
In his study regarding quantum formalism in social sciences, he demonstrated how elements of the formalism of quantum mechanics can be helpful in solving and re-interpreting social science problems, and suggested several applications of pilot-wave theory in terms of financial economics and of Expected utility theory (EUT) in terms of economic ...
While trained economists use complex economic models that are built on observed empirical relationships, in contrast, mathematical finance analysis will derive and extend the mathematical or numerical models without necessarily establishing a link to financial theory, taking observed market prices as input.
Bernard Schmitt (1929 in Colmar, France – 2014 in Beaune, France) was a French economist, founder of the school of economic thought known as 'quantum macroeconomics'. [ 1 ] During his doctoral research (Paris, 1958) he studied at the University of Cambridge (UK), under the supervision of Piero Sraffa and Dennis Robertson .
For combinatorial optimization, the quantum approximate optimization algorithm (QAOA) [6] briefly had a better approximation ratio than any known polynomial time classical algorithm (for a certain problem), [7] until a more effective classical algorithm was proposed. [8] The relative speed-up of the quantum algorithm is an open research question.