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This short comment on Epstein's (2008) paper and on the response by Thompson and Derr argues that the symmetry between explanation and prediction cannot satisfactorily be discussed without making clear what prediction means - depending on which connotations the authors have with 'prediction'...
Persistent link: https://www.econbiz.de/10005481589
This address treats some enduring misconceptions about modeling. One of these is that the goal is always prediction. The lecture distinguishes between explanation and prediction as modeling goals, and offers sixteen reasons other than prediction to build a model. It also challenges the common...
Persistent link: https://www.econbiz.de/10005481595