Dr. Mark Kirstein's profile photo

Dr. Mark Kirstein

Hamburg, Germany

Independent Researcher at Freelance

#ErgodicityEconomics #Geoeconomics Scientific Editor @Zeitschrift_WD OwnViewsHere @ysi_commons prvsly @mpiMathSci @ifso_due @LdnMathLab

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Mark Kirstein @nonergodicmark@mastodon.world
Mark Kirstein @[email protected] @nonergodicMark
12 Nov 24

RT @BevansAdvocate: Updated for economists https://t.co/I4ENVLS1lJ

Mark Kirstein @nonergodicmark@mastodon.world
Mark Kirstein @[email protected] @nonergodicMark
9 Nov 24

Next thought : the decision under certainty Obviously the 'expected' causes the unintuitive result, how about if you seek to maximise utility, what do you actually maximise? Does it look like #EE, i.e. a time average, or more like traditional util theory/decision under certainty?

Mark Kirstein @nonergodicmark@mastodon.world
Mark Kirstein @[email protected] @nonergodicMark

Today I spent some time thinking about #ErgodicityEconomics. just happy to put an insight into a concise form: If homo oeconomicus maximises exp. utility (or wealth), she with probability 1 does not maximise terminal utility (or wealth). Don't believe me? Try it out!

Mark Kirstein @nonergodicmark@mastodon.world
Mark Kirstein @[email protected] @nonergodicMark
9 Nov 24

Today I spent some time thinking about #ErgodicityEconomics. just happy to put an insight into a concise form: If homo oeconomicus maximises exp. utility (or wealth), she with probability 1 does not maximise terminal utility (or wealth). Don't believe me? Try it out!