Tiago Pereira appointed External Fellow

LML is pleased to announce that Tiago Pereira has been appointed External Fellow. Tiago is a Marie-Curie Fellow in the Department of Mathematics at Imperial College London. Read more


Time For A Solution – A Celebration of the Resolution of the St Petersburg Paradox

Monday 9 September 2013 was an important milestone in the history of financial mathematics: the 300th anniversary of the formulation of the St Petersburg Paradox by Nicolas Bernoulli.  Read more

Yuzuru Sato

Yuzuru Sato appointed External Fellow

LML is pleased to announce that Yuzuru Sato has been appointed External Fellow. Yuzuru is an Associate Professor in the Department of Mathematics at Hokkiado University and will spend one day a week at LML Read more


“Why we underestimate risk by omitting time as a factor” by Mark Buchanan

Writing for Bloomberg, Mark Buchanan explains the conceptual difference between classical behavioral utility theory and Ole Peters’ work on risk that emphasizes the non-ergodic nature of models of wealth dynamics. Read more

Bill Miller

Bill Miller appointed trustee

Bill Miller, Chairman of LMM, LLC and Investment Management Company, and Chairman Emeritus of the Santa Fe Institute, joins LML’s board of trustees. We congratulate Bill and thank him for accepting his nomination. Read more


Ole Peters appointed External Professor at Santa Fe Institute

Today Ole joined SFI’s external faculty. In return we hope to welcome many SFI researchers in London over the coming years. Read more


Ergodicity Breaking in Geometric Brownian Motion

The paper by Ole Peters and Bill Klein is published in Physical Review Letters. It takes issue with the common but false assumption of ergodicity — the equality of time averages and expectation values Read more


City A.M. article by Alex Adamou

Alex Adamou introduces the notion of ergodicity and the role of time in economics in an op-ed article published in City A.M., London’s leading free business newspaper, on 4th Jan. He urges finance professionals to Read more

Nature Physics

“Gamble with time” by Mark Buchanan

Mark Buchanan writes in the January issue of Nature Physics about Ole Peters’ work on the St Petersburg paradox. Referring to Ole’s strategy of regarding time as a key concept, he writes “it’s more or less impossible to Read more

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Information-theoretic model for communication

Ronald Dickman, Nicholas Moloney and Eduardo Altmann analyse an information-theoretic model for communication (introduced by Ferrer i Cancho and Solé), building on previous work by Read more