Related papers: 'Ergodicity Economics' is Pseudoscience
Overconfidence is a prevalent problem and particularly consequential in its relation with scientific knowledge: being unaware of one`s own ignorance can affect behaviours and threaten public policies and health. We introduce both analytical…
The aim of this article is to present elements and discuss the potential of a research program at the intersection between mathematics and heterodox economics, which we call Criticial Mathematical Economics (CME). We propose to focus on the…
In 2015 the Open Science Collaboration (OSC) (Nosek et al 2015) published a highly influential paper which claimed that a large fraction of published results in the psychological sciences were not reproducible. In this article we review…
In fields that are mainly nonexperimental, such as economics and finance, it is inescapable to compute test statistics and confidence regions that are not probabilistically independent from previously examined data. The Bayesian and…
Education in statistics, the application of statistics in scientific research, and statistics itself as a scientific discipline are in crisis. Within science, the main cause of the crisis is the insufficiently clarified concept of…
I comment critically on the use and misuse of the theory of vacuum, pseudoparticles and pseudotensors. The mathematical and phenomenological arguments against the Higgs mechanism and the inflationary scenario are presented. I conclude with…
Most of the econometric and econophysics models have been borrowed from the statistical physics, and as a cosequence, a new interdisciplinary science called econophysics has emerged. In this paper we planned to extend the analogy between…
Classic economic science is reaching the limits of its explanatory powers. Complexity science uses an increasingly larger set of different methods to analyze physical, biological, cultural, social, and economic factors, providing a broader…
Probability forecasts are intended to account for the uncertainties inherent in forecasting. It is suggested that from an end-user's point of view probability is not necessarily sufficient to reflect uncertainties that are not simply the…
Entropy is a very useful concept from physics that tries to explain how a system behaves from a point of view of the thermodynamics. However, there are two ways to explain entropy, and it depends on if we are studying a microsystem or a…
In this essay, I argue that the idea that there is a most fundamental discipline, or level of reality, is mistaken. My argument is a result of my experiences with the "science wars", a debate that raged between scientists and sociologists…
Pseudorandmness plays an important role in number theory, complexity theory and cryptography. Our aim is to use models of arithmetic to explain pseudorandomness by randomness. To this end we construct a set of models $\cal M$, a common…
A qualitatively new, much more liberal and efficient organisation of science is proposed and justified, in connection with growing debate about further role and development of fundamental science. Although the key ideas can be explained…
This is the English version of my inaugural lecture at Coll\`ege de France in 2021, available at https://www.youtube.com/watch?v=bxktplKMhKU. I reflect on the difficulty of multi-disciplinary research, which often hinges of unexpected…
Classic inflation, the theory described in textbooks, is based on the idea that, beginning from typical initial conditions and assuming a simple inflaton potential with a minimum of fine-tuning, inflation can create exponentially large…
This paper argues that the fundamental principle of contemporary financial economics is balanced reciprocity, not the principle of utility maximisation that is important in economics more generally. The argument is developed by analysing…
A view on the physical meaning of the so called ergodic hypothesis: its role on the foundations of equilibrium statistical mechanics in mid '800, its interpretations and hints at its relevance for modern nonequilibrium statistical…
Uncertainty in economics still poses some fundamental problems illustrated, e.g., by the Allais and Ellsberg paradoxes. To overcome these difficulties, economists have introduced an interesting distinction between 'risk' and 'ambiguity'…
In recent paper "Quantifying Inequities and Documenting Elitism in PhD-granting Mathematical Sciences Departments in the United States" (arXiv:2308.13750) by a group of accomplished and/or aspiring mathematicians, the authors use data to…
As a unified theory of sentient behaviour, active inference is formally intertwined with multiple normative theories of optimal behaviour. Specifically, we address what we call the subsumption thesis: The claim that expected utility from…