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A comment on The Ergodicity Problem in Economics.
lots of economics uses models that don't deal well the realities of time, because it makes the math a lot harder.
Dealing with the reality of time and path dependence makes the models a lot more complex, but often more accurate.
https://en.wikipedia.org/wiki/Streetlight_effect
lots of economics uses models that don't deal well the realities of time, because it makes the math a lot harder.
Dealing with the reality of time and path dependence makes the models a lot more complex, but often more accurate.