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At this point you could just simulate complete economies on a PC. A medium sized country has 10M people doing ten transactions per day on average. Why have mat
by thriftwy 2y ago
At this point you could just simulate complete economies on a PC.
A medium sized country has 10M people doing ten transactions per day on average. Why have mathematical models when you only ever need to add and subtract.
- hnhg 2y agoAdding and subtracting are insufficient for models that are probabilistic and have interconnected dependencies (graphs).
- thriftwy 2y agoIt may be probabilistic in tx matching but you can simulate every transaction precisely. Not sure I understand the latter argument.
- RandomLensman 2y agoI don't think we have sufficient models as to why each transaction happens or not. For example, why did someone buy blueberries instead of raspberries?
- thriftwy 2y agoThat's only tangentially related to economics. There are no economic reasons why I prefer TBS to FPS games.
- RandomLensman 2y agoThat is what economics is about in no small part: preferences, their pricing and expression. The pure movement of money isn't particularly interesting.
- thriftwy 2y agoThe pure movement of money is interesting as long as we have economic crashes happening from time to time that we don't predict. Preferences and pricing is marketing, not purely economics.
- RandomLensman 2y agoMovement of money isn't causing crashes, but, for example changes in preferences who to move it to or not. What do you think economics is about if it doesn't include preferences and their expression. Btw., we have nearly endless information on the movement of money and credit.
- hnhg 2y agoTo add to what to the other poster said, and to help explain, also were you influenced in buying blueberries because of what other people did in your graph?