233 citations · 567 across the 20 of their papers we have counts for
21 papers
The Two Growth Rates of the Economy
Alexander Adamou, Yonatan Berman, Ole Peters
Economic growth is measured as the rate of relative change in gross domestic product (GDP) per capita. Yet, when incomes follow random multiplicative growth, the ensemble-average (…
What are we weighting for? A mechanistic model for probability weighting
Ole Peters, Alexander Adamou, Mark Kirstein +1
Behavioural economics provides labels for patterns in human economic behaviour. Probability weighting is one such label. It expresses a mismatch between probabilities used in a for…
Microfoundations of Discounting
Alexander T. I. Adamou, Yonatan Berman, Diomides P. Mavroyiannis +1
An important question in economics is how people choose between different payments in the future. The classical normative model predicts that a decision maker discounts a later pay…
The sum of log-normal variates in geometric Brownian motion
Ole Peters, Alexander Adamou
Geometric Brownian motion (GBM) is a key model for representing self-reproducing entities. Self-reproduction may be considered the definition of life [5], and the dynamics it induc…
The time interpretation of expected utility theory
Ole Peters, Alexander Adamou
Economic models often maximise expectation values of wealth or utility. In non-ergodic settings, these can differ from time-averages, so that maximising expected outcomes need not…
A recipe for irreproducible results
Ole Peters, Maximilian Werner
Recent studies have shown that many results published in peer-reviewed scientific journals are not reproducible. This raises the following question: why is it so easy to fool mysel…