Quotessence
Home / Topics / Models Quotes

Models Quotes

Browse 3179 quotes about Models.

Related topics

Models Quotes

“The aim ... is to provide a clear and rigorous basis for determining when a causal ordering can be said to hold between two variables or groups of variables in a model . . . . The concepts refer to a model-a system of equations-and not to the 'real' world the model purports to describe.”

“It is clear that the building of models is not a purely mechanical process but requires skill of a high order - not merely mathematical skill but a sensitivity to the relative importance of different factors and a critical, almost an artistic, faculty in the selection of behaviour equations which are reasonable, tentative hypotheses in explaining the behaviour of actual economies.”

“Executives run organizations. In business, we need executives who have clarity, people who are in touch with themselves. Then, in leadership and management positions, they can be good role models and leaders. The people I know who have really moved their organizations are scrupulous role models. They are so clear about honesty, integrity, openness, mutual self-respect, dignity for the individual, and creativity, that they don't deviate from these principles at all in their behavior.”

“I believe that it is indeed easier for a woman who follows a male monarch, as it was in my case. There was no role model I had to measure up to. It was clear from the beginning that many things would be different, and that helped. And I hope that the same thing will help my son, Crown Prince Frederik, when he becomes king one day.”

“It is quite difficult to establish a clear-cut cause-and-effect relationship, as the causes are manifold and closely connected. It is simply not correct to link the level of democracy to prosperity. It is absolutely clear that the economic wealth of Saudi Arabia exceeds the performance of the Czech Republic. But apparently democracy is quite stable in the Czech Republic, which cannot be said about Saudi Arabia. As we delve into the past, we must not forget about the existing model of society.”

“There are all sorts of institutions in the economic world which depart from the simple price/market model which I worked on in an earlier incarnation and which has been sort of the mainstream of economic theories since Adam Smith and David Ricardo. There are all sorts of contractual relations between firms and individuals which do not conform to the simple price theory - profit-sharing schemes and so forth - and the explanation for these suddenly became clear. We now understand why these emerged and that they are based on differences in information in the economy.”