5min chapter

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Ergodicity — Ole Peters

The Joe Walker Podcast

CHAPTER

The Most Important Dynamic That Living Things Face

In egotisity economics, you behave differently depending on which dynamic your facing. In utility theory, you evaluate any gamble that is put before you according to this utility function. So my prediction for the experiment was, you will find no signal. And then comber came back and said, we've done the experiment,. And erand what happened was that they found an extremely strong signal. so you can see very, very clearly that people change utility functions depending on the dynamic. But i still think there's a lot of merit in in er er egaricity economics. I think an experiment that just shows that there's no signal to be found of it.

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