
Alex Adamou
@alex_adamou
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An Introduction to Ergodicity Economics
Joined February 2013
Lovely summary by .@ole_b_peters of our little textbook and the twenty years of thought that went into it. Very excited to see it published next month. .
1/thread🧵.Almost 20 years ago, I started thinking about the ergodicity problem in the context of economics. That turned out to be surprisingly fruitful, and now there's a book about it.
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Had a lot of fun finishing this little book with @ole_b_peters this year. Everything you need to know to become an ergodicity economist in your pocket (almost). Beautifully printed and bound, too.
Very excited about the first physical test prints of the EE textbook, with @alex_adamou. Good stuff!
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Latest #ErgodicityEconomics paper with @ole_b_peters. A simple model of resource sharing reveals a deep connection between cooperation and ergodicity:. non-cooperators get the time average growth rate;. cooperators get nearer the ensemble average growth rate. No altruism needed!.
"The ergodicity solution of the cooperation puzzle" . with @alex_adamou is out today in Phil. Trans. A by @RSocPublishing. It's part of a Theme Issue on emergence, edited by @manlius84. And yes, of course it's open access. Enjoy!.
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If you'd like to contribute a talk to #ErgodicityEconomics 2022, the deadline for submissions is TOMORROW. Title and 150-word abstract, so no need to spend the whole weekend!.
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RT @bermanjoe: Delighted to have this paper out in AEJ:Applied!.Three takeaways:. 1. Absolute mobility decreased across rich countries over….
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The growth rates of GDP and DDP are the two fundamental growth rates of an economy. Their difference arises from the non-ergodicity of the income process. Details are in this #ErgodicityEconomics paper with @bermanjoe and @ole_b_peters:. . 3/3.
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I agree with Max. GDP is a helpful measure. It tells us about inequality between populations. However, it says little about inequality within populations. That's because it's an aggregate measure, where each unit of income has equal weight regardless of who produced it. 1/3.
I think GDP is a pretty brilliant measure really. Thousands of people thought very deeply for decades to construct this metric. It offers us a great understanding of growth and inequality –– two of the most important dimensions to consider when thinking about our world.
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If you have applied the ergodicity concept in your research, please consider presenting at #EE2022 in January. We would love to hear from you. Last year's conference was friendly, productive, and a lot of fun. (And if you just want to attend, tickets are currently 33% off!).
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RT @JosephNWalker: In @ole_b_peters' first ever podcast, we discuss ergodicity, the history of probability theory, and the will's most lone….
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RT @LdnMathLab: The @LdnMathLab Summer School student presentations are now on the @ictpnews YouTube channel. Congratulations to students a….
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I hope you enjoy reading the paper. Your feedback is welcome. Many thanks to @BierVicki and her editorial team @DAS_INFORMS for helpful comments and smooth handling of the manuscript. Thanks also to @rjs for enjoyable discussions. 6/6.
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Just published in @DAS_INFORMS Decision Analysis. "Microfoundations of Discounting". an #ErgodicityEconomics paper with @bermanjoe, @diomavro, and @ole_b_peters. 1/n.
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RT @LdnMathLab: The International Mathematics Master builds teaching capacity for advanced mathematics in developing countries. 9 graduates….
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