
Ergodicity — Ole Peters
The Joe Walker Podcast
Is There a Wealth Dynamic?
Wealth dynamic would be something where you toss a coin, and if it's heads, you'd win some percentage of your current wealth. And in the other dynamic, you get er, a logarithmic risk sion. We can just present someone witha sequence of multiplicatie gambols, and from that person make choices, we infer what am a utility function the person has. This is something that utility theory can't handle really, or it's not e it's not the perspective of utility theory.
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