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Ergodicity, jail, and time scales – Ergodicity Economics

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When statistical things go wrong, it’s often because someone unknowingly assumed ergodicity where that wasn’t ok. This can have dramatic effects in everyday language: I will use the exa…

May 16, 2019 Ergodicity, jail, and time scales Ole Peters Principal Investigator, Ergodicity Economics, London Mathematical Laboratory and Santa Fe Institute. Twitter When statistical things go wrong, it’s often because someone unknowingly assumed ergodicity where that wasn’t ok. This can have dramatic effects in everyday language: I will use the example of incarceration rates. I will then present a visual illustration to discuss the role of time scales. David and Luigi in jail I’ll tell you a secret: when I read a statistical statement I often wonder whether it’s a temporal statement or an en

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