If idea markets were a thing today, I’d stake a lot in this gaining a lot of appeal in the next 6 months.https://twitter.com/eriktorenberg/status/1169056864711016448 …
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This is a good thing to write about! I’ll type something up... Here is the ultra-compressed version from
@normonics who once spent almost an hour explaining the concept to me on Zoom
https://twitter.com/normonics/status/1103001406192214016?s=20 …
Thanks, that was helpful. It sounds like the thesis is that standard economic models don’t handle non-ergodicity very well.
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Ya thats my understanding. Expected values are misleading unless you're getting lots of N. For coin tosses, great. For career path, maybe not?
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This is my understanding as well. The place where it falls apart in practice is that what is good for the many is not necessarily good for the one.
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