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What seems terribly hard for many economists to accept is that all our models involve silly assumptions.
We all make silly assumptions, some of which (sadly) are ageist, racist, sexist, you-name-it-ist.
But American financiers have made the same silly assumptions, gaily advancing money to "ninjas": people with no income, no job and no assets.
Yet these silly assumptions seemed to let me tell stories that were persuasive, and that could not be told using the hallowed assumptions of the standard competitive model.
To get this system or aggregate level description required, of course, accepting the basically silly assumptions of symmetry that underlay the Dixit-Stiglitz and related models.
His targets ranged from sloppy language about what constitutes a revolver to silly assumptions about the ability of women to handle weapons.
Similar(49)
This being Russia, though, that is a very silly assumption.
I think there has been this rather silly assumption that you get to a cliff edge, and there is either coalition or chaos.
We had assumed that as my wife and Edna shared a passport, they would also share a visa – a silly assumption, but not unreasonable.
Next time someone refers to your beau as your daddy, just point to the nearest stranger and say: "Look, your sister!" When they deny it, follow up with: "Silly assumption, right?" Think of yourselves as paving the way for the rest of us.
This is, of course, a hilariously and obviously silly assumption.
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com