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On 22/04/13 07:41, Henry Bremridge wrote:
And that requires good programming practice - such as re-writing the code when the results are obviously bunkum. In economics if the results match reality but don’t match your political philosophy then they are rejected.On Mon, Apr 22, 2013 at 07:11:23AM +0100, tom wrote:Given that most economists seem to think the economy can not be modelled accurately in the first place I cant imagine them worrying about coding minutiae.I think this particular case was more about a "silly error" that was not spotted. Similar such errors abound: - The space shuttle metric and imperial measurements - The "London Whale" and $6.2bn trading loss http://catless.ncl.ac.uk/Risks/27.25.html#subj8 There is also a 2007 report http://www.cio.com/article/131500/Eight_of_the_Worst_Spreadsheet_Blunders?page=2&taxonomyId=3000 The importance is making sure that careless errors are found
Tom te tom te tom -- The Mailing List for the Devon & Cornwall LUG http://mailman.dclug.org.uk/listinfo/list FAQ: http://www.dcglug.org.uk/listfaq