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Ergodicity (wonkish)

Summary:
Time irreversibility and non-ergodicity are — as yours truly repeatedly has argued — extremely important issues for understanding what are some of the deep fundamental flaws of mainstream economics. Ole Peters presentation at Gresham College gives further  evidence why expectation values are irrelevant for understanding real-world economic systems. [embedded content]

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Time irreversibility and non-ergodicity are — as yours truly repeatedly has argued — extremely important issues for understanding what are some of the deep fundamental flaws of mainstream economics.

Ole Peters presentation at Gresham College gives further  evidence why expectation values are irrelevant for understanding real-world economic systems.

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

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