Third contribution to the ergodic/nonergodic critique: Reply to Davidson, part 2. Issue 2 (2nd April 2016)

• Record Type: Journal Article
• Authors: O'Donnell, Rod
• Is Part Of: Journal of post Keynesian economics. Volume 39:Issue 2(2016)
• Page Start: 145
• Page End: 171
• Publication Date: 2016-04-02
• Subjects: Ergodic/nonergodic distinction -- post Keynesian economics -- uncertainty; B31 -- B41 -- D80 -- E12; 330.15
• DOI: 10.1080/01603477.2016.1169431
• Languages: English
• ISSNs: 0160-3477

Abstract

ABSTRACT: This second part of my reply to Davidson (2015 ) discusses mathematical and statistical matters using a simple model of ergodicity whose properties do not match many of those asserted by ENE. It responds to Davidson's counterarguments against pre-infinity indeterminacy, examines the works of Billingsley, Uffink, and Malinvaud as cited by Davidson, and then turns to important methodological issues. As in Part 1 of my reply, Davidson's rejoinder helps make the critique stronger, deeper, and more relevant.