Monday, July 30, 2012

Credibility in modeling

System dynamicists have multiple approaches to testing models; you can read chapter 21 of John Sterman's Business Dynamics for a good introduction.

Or you can read Paul Krugman's Who To Listen To. I like his attitude, and it sounds remarkably like a system dynamicist wrote it.

It's true, of course, in statistics, too.  Andrew Gelman has written about that multiple times, and he alludes to the importance of the model and its behavior in Ripley on model selection, and some links on exploratory model analysis.

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