Quantum causality beneath classical stochasticity: from physics to the social sciences

We present a method to simulate classical stochastic processes (CSPs) quantum mechanically and propose that CSPs can be modelled as ‘emergent phenomena’ stemming from underlying quantum causal structures. By leveraging insights from quantum physics, our work explores how quantum formalism can provide a novel explanatory framework for stochastic behaviour traditionally modelled within classical paradigms. The proposed framework builds on joint application of different quantum interpretations and incorporates the role of the Subject of Cognizance (SoC) to offer a richer understanding of the interplay between classical randomness and quantum causality. We apply this framework to model the stochastic evolution of stock share prices as driven by the interplay between the participating traders’ preferences and market forces. This article is part of the theme issue ‘Quantum theory and topology in models of decision making (Part 1)’.