New experiments back Ergodicity Economics over Expected Utility Theory in modeling human decision making

Economists thinking about anything from housing policy to climate change need to model how people make decisions, especially when facing uncertainty and risk. Read more

Interview with Marc Elsberg, author of the new German language novel Gier.

Economics had its critics even before the financial crisis of a decade ago. Since then doubt has grown over how much economists really know. Much of economics rests on analyses of how individuals – as consumers, or in managing a business, for example – make supposedly optimal decisions in uncertain situations. Read more

Bayesian approach for network adjustment for gravity survey campaign: methodology and model test

Variations in the strength of gravity over the Earth’s surface reflect underlying geophysical changes such as groundwater change, surface vertical deformation, tectonic events, earthquakes and other processes. To study such processes, so-called gravity survey campaigns collect observations made repeatedly at fixed stations. Read more