Cant Quote by Myron Scholes
“All models have faults - that doesnt mean you cant use them as tools for making decisions.”
About This Quote
Source Interview: Financial Times, 2015
All models have flaws, yet they remain useful decision‑making tools.
In simple terms: Flawed models can still guide choices.
Use models wisely despite imperfections.
Themes
Mood
Type
When to use this quote
- investment
- policy planning
Key Concepts
Questions to Reflect On
- When should you trust a model?
- How to mitigate model bias?
Relying too heavily may cause errors.