Workbook Edits for “Making Good Decisions”: Author Profile: Ole Peters for Volume 1 – Part I: Our Shared Humanity
For new readers, please read the “Pinned Post” titled Why Use Public Peer-Review to Write a Book? - “See for Yourself”.
For returning readers and subscribers, this post presents the Author Profile for Ole Peters from the workbook for Vol. 1 – Part I: Our Shared Humanity.
- See below the downloadable pdf file for this two-page section, as well as a summary description of the section.
Volume 1 – Part I: Author Profile: Ole Peters (1978 - )
- Author profiles use the summary version of the Template for Reading Research Papers (See workbook for Volume 1 – Part V) to present the history, and meaning of the life and work of key authors selected from the more than 140 authors mentioned in Volume 1 – Part I: Our Shared Humanity.
This Author Profile present the life and work of Ole Peters (1978 - ). Ole Peters became the intellectual founder of the Ergodicity Economics program (EE) in 2012, and its organizational leader, in 2018, at the London Mathematical Laboratory (LML). His first paper on EE goes back to 2009. The third EE on-line Conference took place on January 30 & 31, 2023 with a program of 20 speakers, and provides a platform to create this Author Profile by focusing on the content rather than the biography. Using the mathematics of theoretical & applied Physics to model individual behavior based on specific growth dynamics of the “Task Environment”. In the case of Financial Economics, modeling the stochastic processes that governs the growth of wealth enables the description of individual as well as population behaviors to reveal emergent behaviors such as “Winners-take-all” trajectories, the value of cooperation, justifications for taxation, minimum holding periods to discover regularities in the price trajectories of traded, risky assets, optimal leverage (strategic asset allocation) across types of financial assets, and the development of a theory of noisy stock prices that resolves many “Puzzles, Paradoxes & Anomalies” such as the Equity Premium Puzzle. As seen in Volume 1 – Part II: Section #21 & in Volume 1 - Part IV: Sections #42 to #51 of this series of workbooks, EE earns the title of a Program, above and beyond the status of a theory, because it provides a vision of the future based on a narrative of growth in addition to providing quantitative explanations that bring closure to specific questions. EE provides a critical “Repair Program” for Financial Economics, as well as Micro-, Meso-, and Macro-economics.
Developing…
”CTRI by Francois Gadenne” writes a business book in three volumes, published serially on Substack for public peer-review. The book connects the dots of life-enhancing practices for the next generation, free of controlling algorithms, based on the lifetime experience of a retirement age entrepreneur, & continuously updated with insights from reading Wealth, Health, & Statistics research papers on behalf of large companies as the co-founder of CTRI.