Emanuel Derman and Paul Wilmott on mathematical models and self-delusion (2009)

Derman and Wilmott:

Simple clear models with explicit assumptions about small numbers of variables are … the best way to leverage your intuition without deluding yourself.

— “Financial Modelers’ Manifesto,” January 7, 2009, Posted at http://www.wilmott.com/blogs/paul/index.cfm/2009/1/8/Financial-Modelers-Manifesto , accessed 20111214. (Forum discussion at http://www.wilmott.com/messageview.cfm?catid=3&threadid=67869)

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