Also see my article with the simulations. I argue that Peters paper uses the wrong expectation value. The process is ergodic given sufficient samples (a prerequisite for convergence to mean.).https://medium.com/@mikeharrisNY/round-two-of-gamble-expectation-and-the-ergodicity-conundrum-d9b9d6c2e201 …
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It's never ergodic, it's just very nearly ergodic to start. Ole's expectation value never rolls over and continues to rise. The black line in your charts isn't an expectation, it's a realized value. So what should the "real" expected value of N games be?https://breakingthemarket.com/what-is-the-expected-return/ …
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I have to admit, I still don't understand what 'ergodicity economics' or Peters brings to the table which wasn't done better by Bellman and multi-stage decision problems 70 years ago. If you have stuff like bankruptcy, obviously you have to include it in the model, or else GIGO.
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Excellent
@jasonacollins! And happy new year to you.Hvala. Twitter će to iskoristiti za poboljšanje vaše vremenske crte. PoništiPoništi
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