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Luca Dellanna on Risk, Ruin, and Ergodicity

EconTalk

CHAPTER

The Power of Non-Ergodicity in Learning and Growth

This chapter explores the concept of non-ergodicity using the analogy of baking cakes, emphasizing how experience and learning lead to better outcomes. It discusses the balance between irreversible consequences and the potential for growth in various areas such as learning, product development, and relationships.

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