December 5, 2022
All models are wrong, but some are useful.
Everything should be made as simple as possible, but not simpler.
Comparison, Validation, Verification
It is not the individual results of a model that are so important; it is the improved user appreciation of the policy problem that is the greatest contribution of modeling.
Huntington, Weyant, Sweeney “Modeling for insights, not numbers”:
The primary goal of policy modeling should be the insights quantitative models can provide, not the precise-looking projections –i.e. numbers – they can produce for any given scenario.