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Rejoinder on Ergodicity Economics

Author

Listed:
  • Matthew C. Ford
  • John A. Kay

Abstract

Eleven authors replied to our paper on ergodicity economics in Econ Journal Watch, suggesting that we had made two mistakes which explain our conclusions. We believe that their interpretation of our paper is mistaken. We attempt to clarify the matter by responding to their specific points. We then set out the issues which remain and conclude that our criticism of ergodicity economics remains unanswered.

Suggested Citation

  • Matthew C. Ford & John A. Kay, 2024. "Rejoinder on Ergodicity Economics," Econ Journal Watch, Econ Journal Watch, vol. 21(1), pages 1-69–78, March.
    • Handle: RePEc:ejw:journl:v:21:y:2024:i:1:p:69-78
    as

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    File URL: https://econjwatch.org/1348
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    More about this item

    Keywords

    Ergodicity economics; expected utility theory; decision making under uncertainty; growth optimality;
    All these keywords.

    JEL classification:

    • A12 - General Economics and Teaching - - General Economics - - - Relation of Economics to Other Disciplines
    • B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
    • B59 - Schools of Economic Thought and Methodology - - Current Heterodox Approaches - - - Other
    • D81 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Criteria for Decision-Making under Risk and Uncertainty
    • D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations

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