Quote:
Originally Posted by chezlaw
After that it's far too complicated for even the experts to do much better than guessing. There's no concrete reality being analysed because one of the biggest factors in the outcomes is the adjustments that are made as the situation develops and that's simply too hard a maths problem for them to solve.
Pedantic, but I think it's worth pointing out that this is a bit of a mis-characterisation that skews the debate for some people.
It implies that a team of super-experts with big enough computers could maybe solve it, whereas economics is an immature 'science' in which the models are known not to fit reality, however extravagant they are.
I think a poker analogy (given we are in this forum) is that an expert statistician is trying to calculate EV of the line, but they can't assess villain' range, aren't sure which form of poker we are playing, and they don't know the hand rankings. So are they an 'expert'?
It's not a hard maths problem like working out the best route for a delivery driver or playing heads up limit poker perfectly.
I'm not disputing the point you make though, responsible experts would admit their models are next to useless when presenting the results. And the better informed part of the electorate would avoid relying on them too much in debate.