Re:This year’s Nobel prizes prompt soul-searching among econ...
by billfruit on Friday November 22, 2019 @04:28AM
(#21604127)
I would say testing is a small part of building models: building models should essentially be driven by theory, not by experiments.
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Re:This year’s Nobel prizes prompt soul-searching among econ...
by SiempreViernes on Friday November 22, 2019 @05:32AM
(#21604419)
Stare upon the FRBTheory wiki in delight then, here are ~50 different theories describing the same thing: https://frbtheorycat.org/index.php/Main_Page
As a generous guess at most 40 of these models are wrong, since they all describe basically the same few events with vastly different mechanisms. I guess that majority of interesting but wrong models is what you are after?
Re:This year’s Nobel prizes prompt soul-searching among econ...
by blix on Friday November 22, 2019 @06:01AM
(#21604520)
The space of incorrect-but-reasonable models is infinitely larger than the space of correct models. The way to distinguish between the two is experiment. Experiment is therefore the much more important side of the balance.