3min chapter

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Ergodicity — Ole Peters

The Joe Walker Podcast

CHAPTER

The St. Petersburg Paradox

In the 16 fifties, femar and pascal had this exchange of letters. They came up with the expectation value as an important a quantity for for random variables. And it became really dominant very quickly. Nicholas benole was also the first person toto speak about em extreme values. He looked at this and started asking himself in under what circumstances this model was valid and where it would fail.

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