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And even then I think that it's important to realize that you can only get that far in terms of predictability. First off, it's a complex system; your sampled d
by mvindahl 9y ago
And even then I think that it's important to realize that you can only get that far in terms of predictability. First off, it's a complex system; your sampled data set is incomplete by definition. Secondly, your theory is part of the system that it's measuring, at least if it ever becomes popular enough to influence policy.
I think economics has some valuable insights into human nature -- not necessarily applicable to every human but applicable to enough of us to be of use -- but they should stop cargo culting mathematics. Or more accurately, everyone else should call their bluff.