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All proceeds go to the London Mathematical Laboratory (LML) in support of its ergodicity economics program.

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Contents:
This textbook places the ergodicity question at the centre of economic decision-making: does expected value accurately represent what happens over time?

EE reveals that this is only the case under restrictive conditions. When these conditions don’t hold, we discover alternative concepts of rationality and new insights into risk and decision-making.

The result is a powerful framework with applications in individual decision-making, cooperation, insurance, economic inequality, and financial markets. Designed for a one-semester course, the book equips readers to apply the principles of EE to problems of their own choosing.

Prerequisites:
Part one introduces all necessary mathematical tools. Suitable for undergraduate students in quantitative disciplines.

Citation

Authors
Ole Peters and Alexander Adamou
Publisher
LML Press
Year
2025
ISBN
978-1-0686491-3-4

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