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Erschienen in:
1999 | OriginalPaper | Buchkapitel
Do Informational Frictions Justify Federal Credit Programmes?
verfasst von : Louise Davidson
Erschienen in: Uncertainty, International Money, Employment and Theory
Verlag: Palgrave Macmillan UK
Enthalten in: Professional Book Archive
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I tell my students that the best way to evaluate any logical model is to consider the model builder as if she is a magician. Model-builders rarely make logical errors in moving from axioms to conclusions, any more than professional prestidigitators drop the deck while performing a card trick. Model-builders excel at creating the illusion of pulling relevant policy conclusion rabbits out of their black hat model. The more surprising the rabbits pulled from the hat, the greater the audience enjoyment and applause.