Textbook in PDF format

This book is an outcome of the interdisciplinary conference held at OP Jindal Global University (Quantum Decision-making and Complexity modeling, and their possible applications in social sciences- economics, finance and public policy). The volume builds upon the emerging fields of Econophysics, Complexity theory and Quantum like modelling in cognition and social sciences, and their plausible applications in economics and public policy. There can be deep linkages between the micro, meso and macro scales at which these paradigms operate. In this data-driven age, greater amounts of information, along with the facility to harvest, sort and process said information, have permitted an expansion of the capability to study a society’s various factors to a degree of detail and inclusiveness that has never before been available to researchers. As a result, an increasing number of throughlines is being discovered, revealing heretofore unknown connections between various disciplines and enhancing the study of such societal tropes as finance, language, shared behavior, and many others. As the reader will see, with clearer understanding of the interconnectedness of society’s assorted parts comes a clearer understanding of the society as a whole. We have received critical thoughts from noted experts in social and natural sciences to explore possible interconnections. The editors of this book earnestly hope that the critical reviews presented in this volume will stimulate further scholarly interest, but also interest among policy practitioners for the purpose of exploring possibilities for creating a new paradigm for comprehending pressing issues of deep uncertainty and emergence in social dynamics.
Preface
Quantum Decision Theory
A Brief Overview of the Quantum-Like Formalism in Social Science
Cooperative Functioning of Unconscious and Consciousness from Theory of Open Quantum Systems
Hilbert Space Modelling with Applications in Classical Optics, Human Cognition, and Game Theory
Remodeling Leadership: Quantum Modeling of Wise Leadership
Quantum Financial Entanglement: The Case of Strategic Default
Quantum-Like Contextual Utility Framework Application in Economic Theory and Wider Implications
Complexity Modeling in Economics and Public Policy
Complexity Economics: Why Does Economics Need This Different Approach?
Policy and Program Design and Evaluation in Complex Situations
Market State Dynamics in Correlation Matrix Space
Interstate Migration and Spread of Covid-19 in Indian States
Trade Intervention Under the Belt and Road Initiative with Asian Economies
Innovation Diffusion with Intergroup Suppression: A Complexity Perspective
Epilogue: Nobel Prize in Physics for Complexity Studies and Weather Behavior—Implications for Social Sciences and Public Policy