Ergodicity Economics 2021 Conference


The Ergodicity Economics 2021 conference (EE2021) was held virtually on 18-20 January 2021. The conference included research in Ergodicity Economics and related fields such as neuroscience, psychology, marketing, and medical research. It brought together academic scholars, practitioners and members of the public.

EE2021 Programme

Monday 18 January 2021

Please note: all times are GMT

Session 1 – Intro – Chair: Yonatan Berman

14:00 – 14:15: Alex Adamou – What is Ergodicity?

14:15 – 14:30: Ole Peters – What is Ergodicity Economics?

14:30 – 14:45: Marc Elsberg – How Ergodicity Economics Became a Thriller?

14:45 – 15:00: Discussion

15:00 – 15:15: Break

Session 2 – Decisions 1 – Chair: Ollie Hulme

15:15 – 15:30: David Meder – Experiments in Ergodicity Economics

15:30 – 15:45: Arne Vanhoyweghen – The Influence of Ergodicity on Risk Affinity

15:45 – 16:00: Remy Levin – Risk-Taking Adaptation to Macroeconomic Experiences: Theory and Evidence from Developing Countries

16:00 – 16:15: Discussion

16:15 – 16:30: Break

Session 3 – Decisions 2 – Chair: Erica Thompson

16:30 – 16:45: Mark Kirstein – A History of the Optimand as an Ensemble Average Maintenance Programme

16:45 – 17:00: Ollie Hulme – Surveying Criticisms of Ergodicity Economics

17:00 – 17:15: Peter P. Wakker – Economists’ Views on Ergodic Economics

17:15 – 17:30: Discussion

Tuesday 19 January 2021

Session 4 – Finance 1 – Chair: Emanuel Derman

14:00 – 14:15: Hans Geboers – A Rational Risk Policy: The Importance of Randomness, Leverage and Heavy Tails on Portfolio Drawdowns

14:15 – 14:30: Mishael Milakovic – Is There a Risk-Return Trade-off Under Ergodicity?

14:30 – 14:45: Nils Bertschinger – Growth-Optimal Investment and Martingale Pricing

14:45 – 15:00: Discussion

15:00 – 15:15: Break

Session 5 – Inequality 1 – Chair: Anand Sahasranaman

15:15 – 15:30: Yonatan Berman – Wealth Inequality and the Ergodic Hypothesis: Evidence from the United States

15:30 – 15:45: Viktor Stojkoski – Mobility, Mixing and Ergodicity

15:45 – 16:00: Jamil Civitarese – How Much Will We Reallocate?

16:00 – 16:15: Discussion

16:15 – 16:30: Break

Session 6 – Decisions 3 – Chair: Alex Adamou

16:30 – 16:45: Ihor Kendiukhov – Risk Aversion and Risk-Neutral Probabilities

16:45 – 17:00: Diomides Mavroyiannis – Microfoundations of Discounting

17:00 – 17:15: Anthony Britto – Optimal Investment in Energy Efficiency: A Normative Framework

17:15 – 17:30: Discussion

Wednesday 20 January 2021

Session 7 – Plenary session

14:00 – 14:20: Erica Thompson – Next Steps for “EE”: From Camera to Engine?

14:20 – 14:30: Discussion

14:30 – 14:45: Break

Session 8 – Medicine/Biology – Chair: Rainer Klages

14:45 – 15:00: Alex Kacelnik – Foraging Theory and Economics: Parallels and Differences

15:15 – 15:30: Michael Beil – Ergodicity in Predictive Modeling in Intensive Care Medicine

15:30 – 15:45: Discussion

15:45 – 16:00: Break

Session 9 – Inequality 2 – Chair: Colm Connaughton

16:00 – 16:15: Ravi Kanbur – Ergodicity Economics: A Perspective from Conventional Income Distribution Analysis

16:15 – 16:30: Samuel Forbes – Modelling Wealth Generation with a Non-Stationary Kesten Process

16:30 – 16:45: Roger E. A. Farmer – Self-Fulfilling Prophecies, Quasi-Non-Ergodicity and Wealth Inequality

16:45 – 17:00: Discussion

17:00 – 17:15: Break

Session 10 – Finance 2 – Chair: Ole Peters

17:15 – 17:30: François Gadenne – Conjuring Reality in the Ensemble vs. Restoring Temporal Skepticism

17:30 – 17:45: Christian Mueller – Cross Sectional Non-Ergodicity: An Empirical Approach

17:45 – 18:00: Andrew Fleck – Whither Actuarial Science?

18:00 – 18:15: Discussion