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| Home Front Economy |
| How Software Models Doomed the Markets |
| 2008-11-21 |
| Posted by:tipper |
| #8 This is a copout. Computers don't generate models. Humans do. Computers don't make decisions. Humans do. Nobody can generate valid (reality describing/predicting) numerical models in economics. That Zhang, because parameters of such a model are continuous random variables rather than constants. |
| Posted by: g(r)omgoru 2008-11-21 18:34 |
| #7 Humans choose to use 'blackboxes' over common sense. If the 'blackboxes' didn't exist, they would find another excuse, but they would seek one out none the less. |
| Posted by: Procopius2k 2008-11-21 17:24 |
| #6 This is a copout. Computers don't generate models. Humans do. Computers don't make decisions. Humans do. |
| Posted by: Zhang Fei 2008-11-21 16:35 |
| #5 Try SimCity. |
| Posted by: swksvolFF 2008-11-21 13:03 |
| #4 The single best explanation I've seen so far was "The End" by Michael Lewis http://www.portfolio.com/news-markets/national-news/portfolio/2008/11/11/The-End-of-Wall-Streets-Boom |
| Posted by: Plastic Snoopy 2008-11-21 12:44 |
| #3 GIGO - garbage in, garbage out So, those garbage global warming models didn't give you pause or were you just using them to push your little scheme to |
| Posted by: Procopius2k 2008-11-21 12:20 |
| #2 Believing everything a computer spits out is a recipe for disaster - witness gerbil worming and it's apostles... |
| Posted by: M. Murcek 2008-11-21 11:44 |
| #1 Brute force methods encourage careless thinking. |
| Posted by: g(r)omgoru 2008-11-21 08:32 |