Views of fellows Peter Wakker and Tong Wang on the ergodicity problem in Nature Physics
The article ‘Economists’ views on the ergodicity problem' by Research fellow Peter Wakker (Erasmus University Rotterdam), candidate fellow Tong V. Wang (Erasmus Univeristy Rotterdam) and Jason N. Doctor (University of California, San Diego, United States) has been accepted for publication in Nature Physics and is now online.
The physicist Ole Peters claimed that his ergodic theory is superior to, and can replace all of, economics. He appeared in leading physics journals and popular press, and was qualified as brilliant. This paper shows that Peters’ work is entirely based on elementary misunderstandings, thus defending economics against naïve and haughty views in physics. Fortunately, a prominent physics journal (impact factor 19.25) published it.
Doctor, Jason N., Peter P. Wakker, & Tong V. Wang (2020) “Economists’ Views on the Ergodicity Problem,” Nature Physics (IF 19.25) 16, 1168 (2020), doi.org/10.1038/s41567-019-0732-