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Ergodicity — Ole Peters

The Joe Walker Podcast

CHAPTER

Utility Theory

If you're very wealthy, and your income mostly derives from investments, then your wealth dynamic is mostly multiplicate. So it may be better described as something adjactive where at the end of every month you get some amount of money that may vary dependon whether youare a good month or a bad month. Er, poukno, your costs may fluctuate a bit, but it its something where a a multiplicatie element is is very important. By considering those sorts of circumstances, we can inform the kind of dynamic that we feel is a reasonable model for for, you know, your r your wealth, essentially. And that then allows us to answer er puzzles like like the

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