Baillie Gifford has pledged £2 million over four years to LML’s research into ergodicity economics. The programme focuses on decision-making that optimises long-term outcomes. You can find out more by following our dedicated blog. Baillie Gifford has fostered a culture based on partnership, rigorous research methods, and an investment philosophy that focuses on growth over the long term.

The Novo Nordisk Foundation (Novo Nordisk Fonden) has made a grant of 5 million Danish kroner to Ollie Hulme and Ole Peters as part of its Exploratory Interdisciplinary Synergy programme. This grant will fund research into The ergodicity experiment: Does the brain compute time averages? Combining insights from functional neuroimaging and ergodicity economics, neuroscientists from the Danish Research Centre for Magnetic Resonance and mathematicians from LML will explore whether and how time averages are used by the brain’s reward system. In building decision theory on physical foundations, it is hoped this project will shed light on how the reward system works and how people make risky decisions.