Ergodicity Economics: How time was lost

Come and hear Mark Kirstein from London Mathematical Laboratory talk about an exciting subfield of economics called Ergodicity Economics, a field that pushes for time-consistency in economic theory.


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Time for a change? That is the question that Mark Kirstein, post.doc. at London Mathematical Laboratory, and his research group are asking themselves when thinking about expectations in economics.

Ergodicity has been forgotten in the 'dismal science', they argue, as economists have whole-heartedly accepted the probabilistic notion of the "expected value" when studying uncertainty. But what about the situations where the expected value is a bad criterium for assessing a gamble?

According to Mark Kirstein there are an abundance of examples in economics, where we need to let go of our love for expected values and approach the problem from a time-consistent perspective. Come and learn more about this fascinating revival of time-consistent economics.

There will be food and refreshments at the event. Remember to register with Djøf. The event is hosted by Kritiske Politter in collaboration with Djøf.

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