An Introduction to Ergodicity Economics is a new textbook that draws on physics to re-examine traditional economic theory. It begins with flipping a coin. And a hypothetical gambit. Imagine you were ...

Expected value calculates average future investment returns based on outcome probabilities. In finance, expected value guides portfolio construction and when to sell assets with lower future value.

What if I say that starting a business is unnatural? The venture is always risky, and we’re so good at avoiding risks: Some say it's just the way our brains are wired. Fear of loss may be primal and ...

Investopedia contributors come from a range of backgrounds, and over 25 years there have been thousands of expert writers and editors who have contributed. Robert Kelly is managing director of XTS ...