Theory of quantum games and quantum economic behavior

The quest of this work is to present discussions of some fundamental questions of economics in the era of quantum technology, which require a treatment different from economics studied thus far in the literature. A study of quantum economic behavior will become the center of attention of economists in the coming decades. We analyze a quantum economy in which players produce and consume quantum goods. They meet randomly and barter with neighbors bilaterally for quantum goods they produced. We clarify the conditions where certain quantum goods emerge endogenously as media of exchange, called quantum commodity money. As quantum strategies are entangled, we find distinctive aspects of quantum games that cannot be explained by conventional classical games. In some situations a quantum player can acquire a quantum good from people regardless of their strategies, while on the other hand people can find quantum strategies that improve their welfare based on an agreement. Those novel properties imply that quantum games also shed new light on theories of mechanism design, auction and contract in the quantum era.

Automated summary

This work discusses some fundamental questions of economics in the era of quantum technology, which require a different treatment compared to traditional economics. The study of quantum economic behavior will be a major focus for economists in the future. The article analyzes a quantum economy where players produce and consume quantum goods, and identifies the conditions under which certain quantum goods emerge as mediums of exchange. The distinct aspects of quantum games, compared to classical games, shed new light on mechanism design, auction, and contract theories in the quantum era.