“Models are opinions reflected in mathematics” — O’Neil

  • Transparency. Since every model is a reflection of someones values and ideas and many models uses proxies, the best way to make them work is to make them transparent so that everyone can participate in the evaluation and discussion of the assumptions the models make
  • Dynamic. “That is how trustworthy models operate. They maintain a constant back-and-forth with whatever in the world they are trying to understand or predict. Conditions change and so must the model.”
  • Clarity. [This is my own experience] A model must be very clear on what it is modeling and what it is not modeling. Don’t over-market it.

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Helge Tennø

Helge Tennø

Founder and Principal at Jokull AS