“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 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

“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

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

New LML offices

LML happily announces the location of its new offices at 14 Buckingham Street, London, WC2N 6DF. Read more

Time, for a change.

Ole Peters’ Gresham lecture “Time, for a change” is now available online (audio, video, transcript). Some highlights from the lecture that may clarify a few comments we’ve received: Read more