#ErgodicityEconomics #Geoeconomics Scientific Editor @Zeitschrift_WD OwnViewsHere @ysi_commons prvsly @mpiMathSci @ifso_due @LdnMathLab
Joined August 2017
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Only few witness a scientific breakthrough during their PhD. I was attentive enough to realise #EE is one. From that time on myriad of scientific puzzles wait for you. I intend to solve (at least) one of them during my DAAD PRIME time ;).
non-#ergodicity
bit.ly/2DXdTKl
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Mark Kirstein @nonergodicmark@mastodon.world retweeted
12 Nov 2024
Updated for economists
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Next thought : the decision under certainty
Obviously the 'expected' causes the unintuitive result, how about if you seek to maximise utility, what do you actually maximise?
Does it look like #EE, i.e. a time average, or more like traditional util theory/decision under certainty?
Today I spent some time thinking about #ErgodicityEconomics. just happy to put an insight into a concise form:
If homo oeconomicus maximises exp. utility (or wealth), she with probability 1 does not maximise terminal utility (or wealth).
Don't believe me? Try it out!
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Today I spent some time thinking about #ErgodicityEconomics. just happy to put an insight into a concise form:
If homo oeconomicus maximises exp. utility (or wealth), she with probability 1 does not maximise terminal utility (or wealth).
Don't believe me? Try it out!
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Mark Kirstein @nonergodicmark@mastodon.world retweeted
7 Nov 2024
Science does not have a moral dimension. It is like a knife. If you give it to a surgeon or a murderer, each will use it differently.
-- as mentioned in Futurehype: The Myths of Technology Change (2009) by Robert B. Seidensticker
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Surprising fact: even if homo oeconomicus would maximise (expected) utility/money she actually is not maximising the utility/money she will get in the end
PS: For those interested to see why, checkout #ErgodicityEconomics or
youtube.com/watch?v=J9lAJbfR… by @hulme_oliver
29 Oct 2024
Economists: Let’s assume everyone is a homo economicus, always rational, maximizing utility knowing their budget constraint and prices.
Majority in every poll: we are worse off due to inflation.
Economists: People don’t get it, it’s just vibes.
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Mark Kirstein @nonergodicmark@mastodon.world retweeted
9 Nov 2024
"Modern education is like being taken to the world's greatest restaurant & being forced to eat the menu."
- Gell-Mann
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Mark Kirstein @nonergodicmark@mastodon.world retweeted
18 Oct 2024
Latest podcast
What makes a poor country get rich?
Chatting with the excellent @Marladukharan ...we look at the latest Nobel Prize for Economics, a little bit sceptically.
podcasts.apple.com/ie/podcas…
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Dieses Interview mit Prof. Christian Dustmann ist im Rahmen des Zeitgesprächs zu den 'Herausforderungen auf den Arbeitsmärkten' erschienen.
Enjoy the read!
wirtschaftsdienst.eu/inhalt/…
16 Sep 2024
Our 2nd keynote today at #VfS_conference2024 by Christian Dustmann on "The Effects of Immigration – from Economics to Politics”". Thank you for the great presentation!
@TUberlin @ucl @RF_Berlin
#VfS_conference2024 #EconTwitter
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During the summer I enjoyed this interview with Christian Dustmann as part of the Zeitgespräch on 'Future Challenges of German Labour Markets'
wirtschaftsdienst.eu/inhalt/…
16 Sep 2024
RFBerlin Director Christian Dustmann delivers the keynote address “The impact of immigration: from Economics to Politics” in the #vfs_conference2024. @VfS_econ
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During the intro to his episode with @NateSilver538, @seanmcarroll puts it nicely. People familiar with #ErgodicityEconomics will enjoy:
"EV is a bad name, EV is not the value you expect, the EV is the value you expect on average."
preposterousuniverse.com/pod…
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Mark Kirstein @nonergodicmark@mastodon.world retweeted
I am a tenured fisheries professor at a German research institution. My job is mostly a dream job (see separate thread), but some things are super frustrating in #academiclife in Germany. Here is list of agony. A thread.
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The interview was a lot of fun. Thanks to Christian Dustmann and Yulia for the translation!
12 Aug 2024
📰 As part of their series "Challenges for the Labor Markets of the Future", @Zeitschrift_WD has recently featured an insightful interview with RFBerlin Director Christian Dustmann on the current opportunities and challenges facing the German labor market.
rfberlin.com/interview-dustm…
@nonergodicMark @CReAM_Research @EconUCL
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Eine interessante (ordoliberale) Synthese auf die #Schuldenbremse Thematik liefert @OrdoliberalBG in der August-Ausgabe des @Zeitschrift_WD
wirtschaftsdienst.eu/archiv/…
Er nimmt eine Diskussion um die These von @Lars_Feld et al und die Antithese um @lmuehlen et al gekonnt auf.
8 Aug 2024
Befürworter der #Schuldenbremse haben bei ihrer Einführung 2009 versprochen, die Schuldenbremse würde zu mehr Transparenz und besserer Finanzpolitik führen.
Beides hat sich als empirisch falsch erwiesen.
Die Befürworter verteidigen weiter die Schuldenbremse.
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In “Die Sprache des Kapitalismus” von Simon Sahner & Daniel Stähr hat sich eine sprachliche Ungenauigkeit eingeschlichen. Adam Smith gilt gemeinhin als Urvater der VWL, nicht aber der gesamten WiWi, denn die BWL wurde natürlich von Günter Wöhe gegründet ;)
#EconX
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For all folks working on #sustainability, the (Social) Discount Rate is key, this might help to understand the current standard and where to begin to change it #ErgodicityEconomics
ht: @TimothyTTaylor doi.org/10.1257/jep.38.1.245 @AEAjournals JEP
annualreviews.org/content/jo…
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Probably time for a new edition by @SFIPress ?
18 Jun 2024
Like our children, we hope they will be better than we are, though in reality they are more likely to be a lot like us: Both good and evil at the same time.
You can read my old article at inet.ox.ac.uk/publications/a…
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Dann hat dieser Fan also doch alles richtig gemacht, die anderen im Stau stehen lassen und erstmal in Ruhe ausschlafen bis sich alles wieder gelegt hat
tiktok.com/@tsn/video/738154…
17 Jun 2024
Wie Welt zu Gast bei Freunden der Investitionsversäumnisse 🤷
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Mark Kirstein @nonergodicmark@mastodon.world retweeted
2 Jun 2024
So lange haben wir uns über den Kampfspruch der NRA lustig gemacht, weil er so offensichtlich dämlich ist. Heute gilt bei uns die kleinste Abweichung von dieser Position als "naiver Pazifismus".
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