Comment on Why Economic Models are Always WrongparentComments−iwwr14y"The information-theoretic argument demonstrate that a model cannot exactly match the reality unless it's as complex as the reality."What if reality is self-similar at certain scales? You could generate something that resembles the whole from one part of it.−angelbob14yThen the reality is, information-theoretically, less complex and you can use a less complex model to represent it.
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"The information-theoretic argument demonstrate that a model cannot exactly match the reality unless it's as complex as the reality."
What if reality is self-similar at certain scales? You could generate something that resembles the whole from one part of it.
Then the reality is, information-theoretically, less complex and you can use a less complex model to represent it.