Advanced Quantitative Methods
Ergodicity is a property of a dynamical system whereby its time averages are equivalent to ensemble averages. In simpler terms, this means that the behavior of the system over time reflects the statistical properties of the entire space it occupies. This concept is crucial in understanding the long-term behavior of Markov Chain Monte Carlo (MCMC) methods, as ergodicity ensures that the samples generated will eventually represent the underlying probability distribution accurately.
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