The quantum foundations of utility and value.

Abstract

This work presents a generalization of game theory and new perspectives on utility and value. Using quantum formalism, we prove that classical game theory is a special case of quantum game theory. We show that the von Neumann entropy and von Neumann-Morgenstern utility are equivalent and that the Hamiltonian operator represents value. This article is part of the theme issue 'Thermodynamics 2.0: Bridging the natural and social sciences (Part 1)'.