arXiv:2306.03275q-fin.GN
'Ergodicity Economics' is Pseudoscience
Abstract
In a series of papers, Ole Peters and his collaborators claim that the 'conceptual basis of mainstream economic theory' is 'flawed' and that the approach they call 'ergodicity economics' gives 'reason to hope for a future economic science that is more parsimonious, conceptually clearer and less subjective' (Peters, 2019). This paper argues that 'ergodicity economics' is pseudoscience because it has not produced falsifiable implications and should be taken with skepticism.
There’s a chance I’m doing this a great disservice, but this whole site and subject seems to scream pseudoscience. It seems largely pushed by one guy - Ole Peters. It seems he created the Wikipedia page on this subject. His research is done under the umbrella of the…
jl6View on HNParent context
> Edit: looks like it’s not just me: https://arxiv.org/pdf/2306.03275.pdf Well, a lone author publishing a 4 page essay on arXiv isn't particularly compelling to say the least. I could take two hours of my afternoon and write “«‘Ergodicity Economics’ is Pseudoscience» is…
littlestymaarView on HNParent context