Habits Quote by Donella H. Meadows

In inventing a model we may assume what we wish, but should avoid impossibilities.

— Aristotle

All models have faults - that doesn't mean you can't use them as tools for making decisions.

— Myron Scholes

All models have faults - that doesnt mean you cant use them as tools for making decisions.

— Myron Scholes

Most of us function under the model we have to get something in order to do something, in order to be something. If this…

— Srikumar Rao

Remember that all models are wrong; the practical question is how wrong do they have to be to not be useful.

— George E. P. Box

Most people, even in simple risky situations, don't behave the way the theory of utility would have them behave.

— Howard Raiffa

Models work when they are appropriate for the particular circumstance, but some of the best investment judgments over time have come when people recognized…

— Abby Joseph Cohen

A model's robustness depends on how often it gets tried out and tweaked based on data and its performance.

— Zeynep Tufekci

“Model response-ability!”

— Karen Budzinski

Models are to be used, not believed.

— Henri Theil

...all models are approximations. Essentially, all models are wrong, but some are useful. However, the approximate nature of the model must always be borne…

— George E. P. Box

All models are wrong; some models are useful.

— W. Edwards Deming