Revisiting the mathematics of economic expectations
Cameron Murray
221

I have a question concerning footnote 1. Isn’t performativity and ergodicity still connected? The usual neoclassical model assumes rational expectations. In the example above a neoclassical economist would argue that on a rational market you won’t run out of money for a favorable gamble. Rationality is common knowledge and even if you lose all your money there will be someone who is rational enough to give you the money until infinity.