Tuesday, January 5, 2010

Sentences to Ponder

Have to see if I can squeeze this into the Ethics Chapter of our food policy book where we discuss the ethical biases implicit in various methodologies. Hat tip to MR, who report Levy and Peart's conclusion:

We are all constrained by means of models: we gain insight in one dimension by blinding ourselves to events in other dimensions. Competition among models may be necessary to insure that the benefits of the models exceeds their cost.

For more on economists' biases, see this other link at the WSJ, courtesy MR.

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