Discussion and Q&A: What Can Economists Know? 5/5

The video discusses stochastic processes, uncertainty, and the role of mathematics in decision theory. It explores the concept of ergodicity, the use of probabilistic models, and the challenges of applying these models to real-world data. The session concludes with a reflection on the importance of understanding probabilities and the acknowledgment of speakers.

What is the speaker's perspective on the relationship between markets and the state?

How does the speaker propose to rethink concepts in light of imperfect knowledge?

What challenges does the speaker identify regarding the use of probabilistic models in economics?

What does the speaker suggest about the nature of probabilities in economic models?