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Argument from authority. Sorry, not buying it. The physics/economics definition is basically that time average = ensemble average. (The term "expectation value
by pdonis 3y ago
Argument from authority. Sorry, not buying it.
The physics/economics definition is basically that time average = ensemble average. (The term "expectation value" is used in the Nature paper you reference, but that amounts to the same thing.) But individuals do not experience the ensemble average. A condition on averages is not the same as a condition on individual outcomes.
- DVassallo 3y agoThat’s how I used the term. YC experiences the ensemble average, while individuals are unable to realize their expected value because they only have one lifetime.
- pdonis 3y ago> YC experiences the ensemble average Which could be equal to the time average, and thereby satisfy the definition of "ergodic" that was given, without in any way contradicting this: > while individuals are unable to realize their expected value because they only have one lifetime. I am not disputing that this happens. I am only disputing the use of the term "non-ergodic" to describe it, or the term "ergodic" to describe a hypothetical world where every individual experienced exactly the average outcome.