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The Importance of Physical Principles in Modeling

December 3, 2011

This post talks about the problem with models that are primarily numerical (not based on physical principles). These models are sometimes in danger of not having predictive value.

Here’s the link. The comments are well worth reading also:

http://www.scientificamerican.com/article.cfm?id=finance-why-economic-models-are-always-wrong#comments

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