Only few witness a scientific breakthrough during their PhD. I was attentive enough to realise #EE is one. From that time on myriad of scientific puzzles wait for you. I intend to solve (at least) one of them during my DAAD PRIME time ;). non-#ergodicity https://t.co/yO6f1Dyf5W

Updated for economists

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?

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!

Science does not have a moral dimension. It is like a knife. If you give it to a surgeon or a murderer, each will use it differently. -- as mentioned in Futurehype: The Myths of Technology Change (2009) by Robert B. Seidensticker

Surprising fact: even if homo oeconomicus would maximise (expected) utility/money she actually is not maximising the utility/money she will get in the end PS: For those interested to see why, checkout #ErgodicityEconomics or https://t.co/DRJj29RDyI by @hulme_oliver

"Modern education is like being taken to the world's greatest restaurant & being forced to eat the menu." - Gell-Mann

@ishirubi

Latest podcast What makes a poor country get rich? Chatting with the excellent @Marladukharan ...we look at the latest Nobel Prize for Economics, a little bit sceptically. https://t.co/qYNenjVtg3

Dieses Interview mit Prof. Christian Dustmann ist im Rahmen des Zeitgesprächs zu den 'Herausforderungen auf den Arbeitsmärkten' erschienen. Enjoy the read! https://t.co/we9N5X2Vta

During the summer I enjoyed this interview with Christian Dustmann as part of the Zeitgespräch on 'Future Challenges of German Labour Markets' https://t.co/we9N5X2nDC

During the intro to his episode with @NateSilver538, @seanmcarroll puts it nicely. People familiar with #ErgodicityEconomics will enjoy: "EV is a bad name, EV is not the value you expect, the EV is the value you expect on average." https://t.co/EzHemtSTfx

I am a tenured fisheries professor at a German research institution. My job is mostly a dream job (see separate thread), but some things are super frustrating in #academiclife in Germany. Here is list of agony. A thread.

The interview was a lot of fun. Thanks to Christian Dustmann and Yulia for the translation!

Eine interessante (ordoliberale) Synthese auf die #Schuldenbremse Thematik liefert @OrdoliberalBG in der August-Ausgabe des @Zeitschrift_WD https://t.co/cLg8xKYpi6 Er nimmt eine Diskussion um die These von @Lars_Feld et al und die Antithese um @lmuehlen et al gekonnt auf.

In “Die Sprache des Kapitalismus” von Simon Sahner & Daniel Stähr hat sich eine sprachliche Ungenauigkeit eingeschlichen. Adam Smith gilt gemeinhin als Urvater der VWL, nicht aber der gesamten WiWi, denn die BWL wurde natürlich von Günter Wöhe gegründet ;) #EconX

For all folks working on #sustainability, the (Social) Discount Rate is key, this might help to understand the current standard and where to begin to change it #ErgodicityEconomics ht: @TimothyTTaylor https://t.co/9qyE14I2IN @AEAjournals JEP https://t.co/1C8EgpkVQS

Great opening for a text on #math #chaos and Plagues in Kazakhstan from Mathematical Research Institute Oberwolfach (#MFO)

Probably time for a new edition by @SFIPress ?

Dann hat dieser Fan also doch alles richtig gemacht, die anderen im Stau stehen lassen und erstmal in Ruhe ausschlafen bis sich alles wieder gelegt hat https://t.co/uvlOVHu9ya

So lange haben wir uns über den Kampfspruch der NRA lustig gemacht, weil er so offensichtlich dämlich ist. Heute gilt bei uns die kleinste Abweichung von dieser Position als "naiver Pazifismus".