
The Ergodicity Problem in Economics - KKKKkkkk1
https://www.nature.com/articles/s41567-019-0732-0#Sec7
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gwern
'Ergodicity' was solved by Bellman with multi-stage sequential decision
problems. There's no breakthrough here. If you leave out key parts of the
problem like bankruptcy or finite capital or opportunity cost, surprise
surprise, naive greedy expected value maximization gives you the wrong answer.

"Pray, Mr. Babbage, if you put into the machine wrong figures, will the right
answers come out?"

