I just checked, and you can get the book for EUR 5.17 at the moment: www.kennys.ie/shop/fortune...

James King@jamesking.io · last wk.

Just finished reading the 20th anniversary edition of Fortune’s Formula by William Poundstone. It is such a good book. The new edition has an extra part, titled Ergodicity, which covers the work of Ole Peters and others.

Just finished reading the 20th anniversary edition of Fortune’s Formula by William Poundstone. It is such a good book. The new edition has an extra part, titled Ergodicity, which covers the work of Ole Peters and others.

Applications now open for Complexity Postdoctoral Fellowships at @sfiscience.bsky.social! apply-sfi.smapply.org/prog/complex...

"ohne daß irgendwelche besondere Hypothese zugrunde gelegt werden müßte"

So good to see this book in libraries. Everyone should have access.

If you’re interested in — I was going to say ergodicity, then I thought ‘decisions theory’, and now I’m settling on — life?, have a look at the 20th anniversary edition of William Poundstone’s classic Fortune’s Formula. It has a brand new part about the rise of ergodicity economics.

Interesting exercise: use ergodicity economics to determine the conditions under which the answers are rational.

YouGov@yougov.co.uk · 2w ago

If you had a choice between instantly receiving £50,000 or a 50% chance to win £1m, which would you pick? £50,000: 73% 50/50 chance of winning £1m: 21% yougov.com/en-gb/daily-...

If ergodicity had been part of our cultural vocabulary, we wouldn’t have got into the communication mess over Covid vaccines. Another 100 years and we’ll all be on the same page…

Daniel P. Moriarity@dpmoriarity.bsky.social · 3w ago

This is some part copium, but imo calling small btw-person differences not clinically meaningful is making assumptions about how things play out within-person (tickles ergodicity sensors) Wouldn't say large btw-associations are clinically relevant, but that goes the same for irrelevance

1/ Very curious about this, @cfcamerer.bsky.social. Long-term growth optimization, studied in ergodicity economics, provides an interesting baseline for the "cold calculation" part of loss aversion. It makes predictions that may already be testable using data you've collected.

Santa Fe Institute @sfiscience.bsky.social · 4w ago

Reserve free tickets for SFI's Community Lecture with Colin Camerer, July 21, 7:30 pm at the Lensic. Why does losing $10 hurt roughly twice as much as gaining $10 feels good? This talk explores loss aversion, and how emotion, not just cold calculation, creates our aversion to loss. Tickets:

likewise I thank @opeters.bsky.social for dispelling the myth the rational actor cannot be altruistic of Micro101 because "ergodicity fallacy", i.e. treating optimization as if it had no memory and running into St. Petersburg paradox. In reality: The Farmers Fable of utlity maximizing cooperation

Farmers Fable. A Tale of Cooperation

From Marc Elsberg thriller GIER, based on scientific work of London Mathematical Laboratory, explains the fundamental principle of the cooperation benefit.

farmersfable.org

If I post a link on here, will my post be suppressed, like on twitter and linkedIn, or is BlueSky the last refuge for people who actually want to communicate content?

Not entirely surprising in a tutorial session about ‘An introduction to ergodicity economics.’ Having said that — it is the only book on the subject, and there really is a feeling of witnessing science in the making here.

heartpunk (sophie!!)@heartpunk.com · 4mo ago

very weird to be at a conference for a field so young where ppl in every talk say "the book" and everyone knows w/o any possible ambiguity exactly which they mean cool but very weird too like, what, i'm in history or something????? I'M IN HISTORY WHAT IS THIS THIS IS WEIRD AGGHHHHHHHH

Nothing like the comedy store players.

Lee Simpson@leesimpson.bsky.social · 5mo ago

Go see some live comedy. Even if it isn't us. Go see real people doing their thing. Nothing like it.

New book: An Introduction to Ergodicity Economics A new textbook by SFI External Professor Ole Peters and Alexander Adamou re-examines core assumptions in economic theory. It presents a formal challenge to expected-value thinking and shows how non-ergodicity can arise naturally in economic models.

New book: Introduction to Ergodicity Economics

An Introduction to Ergodicity Economics is a new textbook that draws on physics to re-examine traditional economic theory. It begins with flipping a coin. And a hypothetical gambit. Imagine you were o...

santafe.edu

For those of you who couldn't make it to the launch event in June, here's a video about the "why" behind writing the textbook.

Why we wrote a textbook

YouTube video by Ergodicity TV

youtu.be

The story that orthodox economics is as good as a formal theory of human behavior can ever be has been holding economic theory back for a long time. I know one formal theory that’s better than the orthodoxy.

James King@jamesking.io · 9mo ago

Richard Thaler doesn't think there is any progress to make on economic theory. jamesking.io/2025/11/10/r...

Is there an age limit to apply?

Sean Carroll@seanmcarroll.bsky.social · 9mo ago

Deadline Dec 1!

This book has been such a delight! By my friend and mentor Reuben Hersh, about his friend and mentor Peter Lax. Reading it feels like listening to Reuben speak about his love of mathematics and his respect, friendship, and admiration for Peter.

I was listening to your podcast, @seanmcarroll.bsky.social and @pettertornberg.com. I always thought of the Schelling model as some sort of "zero-temperature Ising thing." But this time I asked chatGPT, and the exact mapping is worked out here: journals.aps.org/pre/abstract... Interesting for you?

It makes me exceedingly happy that there are people all around the world who enjoy this kind of gentle slow meditation. Social-media scatter brain be damned. And if one of them is Dave Bacon, you know it's good stuff!

Dave Bacon@dabacon.tachyon.institute · last yr.

Look what showed up today @opeters.bsky.social non-trivial thoughts beside the non-trivial trefoil knot

1/6 How can I put this? "Expected-utility maximizers don't maximize utility." Why? Because utility is not usually an ergodic quantity in the mathematical models used by economists, and maximizing its expected value doesn't mean much in the real world.

If you're interested in studying uncertainty at Ph.D. level, this set of scholarships may be for you: www.zeit-stiftung.de/en/topics/de...

Apply now: Ph.D. Scholarship Program

Whether it's due to the climate crisis, wars, political polarization, inflation or global health crises: Increasing uncertainty about the future has become a defining feature of our time. The ZEIT STI...

zeit-stiftung.de

1/thread🧵 Almost 20 years ago, I started thinking about the ergodicity problem in the context of economics. That turned out to be surprisingly fruitful, and now there's a book about it. ergodicityeconomics.com/publications/

Sending this straight to the publisher.

Lee Simpson@leesimpson.bsky.social · last yr.

I'm not qualified to express an opinion on this work but Ole is a fascinating and mischievous thinker so I'm prepared to bet it is a bit of all right.

Happy to announce that "An Introduction to Ergodicity Economics" can now be ordered. Here: ergodicityeconomics.com/publications/

So there's this country. It produces money, electronically. Then sends that money to other countries, and in return receives all the goods its citizens might want. Just for sending an electronic notification that it's created more money. And it doesn't like that.

For those of you who couldn't join us at our in-person EE2025 conference in Cascais, I've written up a dinner conversation I had with Gerd Gigerenzer and put it up on LinkedIn. www.linkedin.com/pulse/ergodi...

I don't believe in rushing things, but 10 years into the writing of the EE textbook, it's good to see the cover is ready. If you want a ping when it's ready to order (very soon), sign up to our EE mailing list at ergodicityeconomics.eo.page/4ct3k

1/2 I would love a deep dive on the clock ambiguity. If I understand it correctly, then there's a fascinating parallel to expected-utility theory. You can solve certain problems in economics by picking a non-linear utility function. But we've found that that corresponds to assuming (or generating)..

Sean Carroll@seanmcarroll.bsky.social · 2y ago

Mindscape 300 | Solo: Does Time Exist? (Spoiler: yes, it does.) Celebrating another click of the podcast odometer with a solo episode, talking about quantum mechanics, gravity, and time. #MindscapePodcast www.preposterousuniverse.com/podcast/2025...

Point of view: Expected-utility theory has been the dominant model of economic decision making for 300 years. That does not mean it's a good model. It's such a convoluted disaster of formal errors, misunderstandings, failed corrections etc. that critics just give up.