Lecture notes – Ergodicity Economics

These notes are our attempt to re-develop economic theory from scratch, namely starting with the axiom that individuals optimize what happens to them over time, not what happens to them on average in a collection of parallel worlds. The latter, surprisingly, is the starting point of the currently dominant form of economic theory. – Ole Peters

Everything We’ve Learned About Modern Economic Theory Is Wrong - Bloomberg article – Dec 11, 2020.

(1) How you will go bust on a favorable bet. (Kelly/Shannon/Thorp) - YouTube – Taleb’s video about the