Modelling social phenomena has much in common with modelling floods and heat waves, but it also poses new challenges, according to Andrew Coburn, chief executive of Risilience Ltd., the UK risk-analysis company spun out of Cambridge Judge Business School last year.
“It’s about drawing trends, and projecting forwards using the best available information,” Andrew said. “What we’ve never been confronted with before is society trying to change its entire economic base. Other than the Industrial Revolution, probably, this is the biggest change we’ve ever seen in societal economics.” (subs)
Read the full article [Wsj.com]
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