3 ms·
> As a physicist, the models that I encountered in economic theory always left me quite disappointed. The main reason for this was that -like the article says-
by fennecfoxen 11y ago
> As a physicist, the models that I encountered in economic theory always left me quite disappointed. The main reason for this was that -like the article says- most of the models used in Economics are based on abstract reasoning about "ideal" markets and actors
I recall my family's PhD. economist relating an anecdote about an colleague explaining that he's making the usual set of assumptions like, say, "people live forever", before doing some math for students. :)
Assume a spherical cow: https://en.wikipedia.org/wiki/Spherical_cow https://en.wikipedia.org/wiki/Spherical_cow