On Quantum Ambiguity and Potential Exponential Computational Speedups to Solving Dynamic Asset Pricing Models

• 成果类型: Article; Early Access
• 署名作者: Ghysels, Eric; Morgan, Jack
• 署名单位: University of North Carolina; University of North Carolina Chapel Hill; University of North Carolina School of Medicine
• 刊物名称: INTERNATIONAL ECONOMIC REVIEW
• ISSN/ISSBN: 0020-6598
• DOI: 10.1111/iere.70019
• 发表日期: 2025
• 关键词: rare disasters; long-run; RISK

摘要

We formulate quantum computing solutions to a large class of dynamic nonlinear asset pricing models using algorithms, in theory exponentially more efficient than classical ones, which leverage the quantum properties of superposition, entanglement, and interference. The equilibrium asset pricing solution is a quantum state. We use quantum decision-theoretic foundations of ambiguity and model/parameter uncertainty to deal with model selection.