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> Economics is such a complicated system that the expert opinions have long been biased toward the 'opinion' side > A physical model of network effects that pr
by bendykstra 11y ago
> Economics is such a complicated system that the expert opinions have long been biased toward the 'opinion' side
> A physical model of network effects that presents phase transitions gives us a view into the underlying reality.
Here, imperfect mental models (aka opinions) are replaced by imperfect computational models. There's nothing inherently superior about this model just because it has been translated into code. It should be regarded as a tool to understand the consequences of the assumptions that went into its design. If those assumptions are unsound, the model is unsound and will not reflect real economic systems.