An Introduction to Ergodicity Economics is a new textbook that draws on physics to re-examine traditional economic theory. It ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Robert Kelly is managing director of XTS ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Robert Kelly is managing director of XTS ...

Vol. 48, No. 2/3, Symposium on the 50th Anniversary of the Ellsberg Paradox (October 2011), pp. 377-398 (22 pages) This paper argues that Nash equilibrium is a solution where all strategic uncertainty ...

This paper provides simpler and more general preference foundations for difference representations than known before and shows how to obtain cardinal utility from those difference representations. In ...