by Summary:
Model builders face a constant temptation to make things more complicated than necessary because this makes them appear more capable than they really are. Remember that a model is not the truth. It is a lie to help you get your point across. And in the case of modeling economic risk, your model is a lie about others, who are probably lying themselves. And what’s worse than a simple lie? A complicated lie. Advertisements
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Lars Pålsson Syll considers the following as important: Economics
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Model builders face a constant temptation to make things more complicated than necessary because this makes them appear more capable than they really are. Remember that a model is not the truth. It is a lie to help you get your point across. And in the case of modeling economic risk, your model is a lie about others, who are probably lying themselves. And what’s worse than a simple lie? A complicated lie. Advertisements
Topics:
Lars Pålsson Syll considers the following as important: Economics
This could be interesting, too:
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Lars Pålsson Syll writes How inequality causes financial crises
Model builders face a constant temptation to make things more complicated than necessary because this makes them appear more capable than they really are.
Remember that a model is not the truth.
It is a lie to help you get your point across.
And in the case of modeling economic risk, your model is a lie about others, who are probably lying themselves.
And what’s worse than a simple lie?
A complicated lie.
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