4 ms·
> All models are wrong, some are less wrong than others A sentiment often echoed by economists. I'd be inclined to counter with the following: All models are
by soVeryTired 9y ago
> All models are wrong, some are less wrong than others
A sentiment often echoed by economists. I'd be inclined to counter with the following:
All models are wrong. Some are useful, some are dangerous. Do you have a mechanism to tell the difference?
- crdoconnor 9y agoModels that bury certain uncomfortable realities in assumptions (e.g. "perfect information/competition") are useful to some people but not others. What I'd like to see studied is any connection between funds allocated to econ research and the assumptions made in the publication output. More study on how econ research is funded in general would help to better understand the incentives and motives of researchers.