Blog
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EE Seminar #12: Ollie Hulme – Time-averaging predicts optimality of human risk-taking and striatal reward responses
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Maximising expected outcomes – framed as expected utility in behavioural science and expected reward in reinforcement learning – has long dominated models of decision-making. In this seminar, Ollie Hulme (DRCMR) asks if people maximise time averages instead. He will present data showing […]
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EE Seminar #11: Colm Connaughton – Heuristic decision models of the Copenhagen experiment
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Behavioural experiments by Ollie Hulme’s group in Copenhagen show that people change their implied risk preferences when choosing between repeated multiplicative versus additive gambles. The shifts are consistent with a model assuming that the subjects intend to maximise the time averaged growth […]
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EE Seminar #10: Aubrey Clayton – Teaching Probability Without Frequencies
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In this seminar, Aubrey Clayton (author of Bernoulli’s Fallacy) introduces a framework for characterising probability without reliance on frequencies. Statistics educators (even Bayesians!) have long struggled with the fact that no traditional definition of probability is adequate for all purposes. Sometimes probability […]
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Congratulations to Ole Peters on being awarded Freedom of the City of London
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Congratulations are in order for LML Fellow and Co-founder Professor Ole Peters who was awarded the Freedom of the City of London on 19 July 2024, having been nominated for his contributions to research into economics, in particular his formulation of Ergodicity […]
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Interview: LML Fellow Emilie Soysal
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Emilie Rosenlund Soysal joined LML as a research fellow in January 2024. Her current research focuses on the economic modelling of climate change and disaster risk, tipping points and extinction. She is particularly interested in optimal policies under the presence of absorbing […]
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Data Science for Social Good — identifying students at risk of missing out on higher education
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Datafest, a recent event at The Shard in London, marked the culmination of a twelve week effort by students participating in the 2023 Data Science for Social Good (DSSG) Summer Fellowship programme at the University of Warwick, supported by the London Mathematical […]
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Data Science for Social Good — helping consumers to identify greenwashing
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Datafest, a recent event at The Shard in London, marked the culmination of a twelve week effort by students participating in the 2023 Data Science for Social Good (DSSG) Summer Fellowship programme at the University of Warwick, supported by the London Mathematical […]
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Fighting deforestation in Brazil: gaining insight through data science
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Datafest, a recent event at The Shard in London, marked the culmination of a 12-week effort by students participating in the 2023 Data Science for Social Good (DSSG) Summer Fellowship programme at the University of Warwick, supported by the London Mathematical Laboratory. […]
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Why insurance exists
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A recent issue of Annals of Actuarial Science features a concise essay by Ole Peters, founder of the London Mathematical Laboratory, discussing the concept of insurance – and explaining why it is surprisingly paradoxical from the viewpoint of mainstream economics. The discussion […]
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Cooperation through exchange: an emerging paradigm
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“Evolution,” in the words of biologist Martin Nowak, “is based on a fierce competition between individuals and should therefore reward only selfish behaviour. Every gene, every cell, and every organism should be designed to promote its own evolutionary success at the expense […]