I view the work I've done related to statistics and economics as roughly speaking, how to do something without having to do everything. So economic models -- how any model by definition isn't right. When someone just says, 'Oh, your model is wrong.' That's not much of an insight. What you want to know is, is wrong in important ways or wrong in ways that are less relevant? And you want to know what does the data really say about the model?
American economist
Lars Peter Hansen (born October 26, 1952) is an American economist and Professor of economics at the University of Chicago. Best known for his work on the Generalized Method of Moments, he is also a distinguished macroeconomist, focusing on the linkages between the financial and real sectors of the economy. He is the 2013 Nobel laureate in Economics with Eugene Fama and Robert J. Shiller.
From: Wikiquote (CC BY-SA 4.0)
Showing quotes in randomized order to avoid selection bias. Click Popular for most popular quotes.