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Not to protect the insurance industry, which I know nothing about, but how does their hypothetical failure, misery and bailout relate to, or validate the study
by twelve40 7y ago
Not to protect the insurance industry, which I know nothing about, but how does their hypothetical failure, misery and bailout relate to, or validate the study in question?
- arkades 7y agoCriticism: Academia fails to model the real world, in contrast to industry ("is way behind industry"). Response: An entire industry of competing and well-funded actors that specialize in modeling and predicting expensive failure states also failed to model the world accurately. Implication of Response: Where is the evidence that this is inferior to industry?
- no-s 7y ago>>Implication of Response: Where is the evidence that this is inferior to industry? A meta implication is that expert models were insufficient to inform decisions.