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On the fundamental difference between ergodic and non-ergodic processes in economics

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On the fundamental difference between ergodic and non-ergodic processes in economics Yours truly has tried to explain the fundamental difference between time averages and ensemble averages repeatedly on this blog. Still people obviously seem to have problems grasping it. Maybe this video will help … [embedded content] div{float:left;margin-right:10px;} div.wpmrec2x div.u > div:nth-child(3n){margin-right:0px;} ]]> Advertisements

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On the fundamental difference between ergodic and non-ergodic processes in economics

Yours truly has tried to explain the fundamental difference between time averages and ensemble averages repeatedly on this blog. Still people obviously seem to have problems grasping it. Maybe this video will help …

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Lars Pålsson Syll
Professor at Malmö University. Primary research interest - the philosophy, history and methodology of economics.

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