Wednesday, February 4, 2015

The TOE arrives in economics

Getting a handle on heterogeneity - Vox EU

This article describes the method of finding the probability distribution that matches the obervables, with respect to a finite number of agents networked in a distribution.  Economists have been on this since earlier than Schramm-Loewner, and the two are converging rapidly.  Science in action. I did enough looking to see that the new method maximizes at least two of the transcendental approximation to describe the distribution.

The God of Infinite Subdivision is banished, Newton's rules of grammar redefined, mathematicians are adding the subjective tense to his rules, Ito and Lebesque. Bless the mathematicians.

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