Quantum cognition and projection bias

The innovative application of quantum mechanical concepts of probability to cognitive science has provided new, meaningful ways to more accurately model human decision making. Leveraging the dynamic geometric principles associated with the mathematics of quantum theory, we use the idea of probability interference to explain projection bias and its violations of the classical law of total probability and expected utility theory. In particular, Khrennikov's contextual probability model is successfully applied to the study by Read & van Leeuwen on hunger and projection bias. We conclude that probability interference provides an effective, accurate and meaningful way to model projection bias, thus broadening the reach of quantum cognition in economics.This article is part of the theme issue 'Quantum theory and topology in models of decision making (Part 1)'.