1 the seven properties of good models xavier gabaix mit and nber and david laibson harvard university and nber nyu methodology conference 1 the authors wish to thank andrew caplin ...
Filetype PDF | Posted on 02 Jan 2023 | 4 years ago
The words contained in this file might help you see if this file matches what you are looking for:
...The seven properties of good models xavier gabaix mit and nber david laibson harvard university nyu methodology conference authors wish to thank andrew caplin for helpful advice ian dew becker brian wells provided valuable research assistance acknowledge financial support from national science foundation hsd institute aging p ag scientists spend most their time formulating analyzing a model is description or representation world are based on assumptions that known be only approximately true exactly false example consider commonly used earth flat spherical ellipsoid these do not account bumps grooves perfect replica would reproduce every contour but such impractical you don t need know height beacon hill take subway across boston tourists use map just complex enough problem at hand this essay describes key useful economic parsimony tractability conceptual insightfulness generalizability falsifiability empirical consistency predictive precision successful have although almost no them all...