4 ms·
But, this is just one simplistic definition of efficiency. You could include as part of your model some % slack coefficient, some % of failure for each componen
by opportune 8y ago
But, this is just one simplistic definition of efficiency. You could include as part of your model some % slack coefficient, some % of failure for each component in the network, and find some kind of allocation that maximizes expected "efficency". The problem isn't optimization, it's that your model doesn't include enough variables
- alexpetralia 8y agoCan your model ever include enough variables though? In other words, you can stuff all the variables you want in there, but you will likely still have error - especially with complex systems (regime switches, etc.) - that you did not put in your model. I think economists tried the "model stuffing" technique, and I'm not sure how much it helped in planning something as complex as the economy.
- mandelbrotwurst 8y agoWhile surely the answer is no for many systems, there are often still be insights to be gained from attempting to model things out as long as you recognize that it will never be perfect.
- arkades 8y ago>Can your model ever include enough variables though? Resiliency isn’t invincibility.
- deleted 8y ago[deleted]