You got it bac'ards, mate; first get filthy rich, then get the model...
Posted on 06/06/2010 9:41:03 AM PDT by Dallas59
cientists are planning to use the largest supercomputers to simulate life on Earth, including the financial system, economies and whole societies. The project is called "Living Earth Simulator" and part of a huge EU research initiative named FuturIcT.
Supercomputers are already being used to explore complex social and economic problems that science can understand in no other way. For example, ETH Zurich's professor for transport engineering Kay Axhausen is simulating the travel activities of all 7.5 Million inhabitants of Switzerland to forecast and mitigate traffic congestion.
Other researchers at the ETH -- all working within its Competence Center for Coping with Crises in Complex Socio-Economic Systems (CCSS) -- are mining huge amounts of financial data to detect dangerous bubbles in stock and housing markets, potential bankruptcy cascades in networks of companies, or similar vulnerabilities in other complex networks such as communication networks or the Internet.
(Excerpt) Read more at sciencedaily.com ...
Yes, there is their resound success modeling "global warming" to point to. If "scientists" do not "understand" the social and economic problems who is going to write the simulation code? Garbage in equals garbage out!
Regards,
GtG
Garbage in....liberal policies out.
If anyone could actually get any sort of real-world economic model to work at all, they’d keep the results secret and become filthy rich. (At least, that’s what I would do!)
In point of fact, any working model of the economy would result in significant behavioral changes by investors trying to take advantage of the results in order to improve their own results. This in turn subsequently renders the model incorrect. This is a classic example of the “observer effect”, in which the act of observing something (a functioning model that mirrors reality, for example) alters that which is observed. (On a lighter note, it would be great fun to gain enough credibility that one could knowingly fake model results and be prepared in advance to take advantage of the expected resulting behavioral changes in order to become filthy rich. Oops, there I go again, trying to get filthy rich from a model.)
You got it bac'ards, mate; first get filthy rich, then get the model...
I’d love to see these simulations incorporate bible prophecies into the mix.
all you need to do is string together enough xboxes or ps3’s and you have your own makeshift super computer to do the task as you wish.
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