EconPapers    
Economics at your fingertips  
 

Statistical and Physical Models

William Briggs

Chapter Chapter 9 in Uncertainty, 2016, pp 153-202 from Springer

Abstract: Abstract Statistical models are probability models and physical models are causal or deterministic or mixed causal-deterministic-probability models applied to observable propositions. It is observations which turn probability into statistics. Statistical and physical models are thus verifiable, and all use statistics in their verification. All models should be verified, but most aren’t. Classical modeling emphasizes hypothesis or “significance” testing and estimation. No hypothesis test, Bayesian or frequentist, should ever be used. Death to all p-values or Bayes factors! Hypothesis testing does not prove or show cause; therefore, embedded in every test used to claim cause is a fallacy. If cause is known, probability isn’t needed. Neither should parameter-centric (estimation, etc.) methods be used. Instead, use only probability, make probabilistic predictions of observables given observations and other premises, then verify these predictions. Measures of model goodness and observational relevance are given in a language which requires no sophisticated mathematical training to understand. Speak only in terms of observables and match models to measurement. Hypothesis-testing and parameter estimation are responsible for a pandemic of over-certainty in the sciences. Decisions are not probability, a fact with many consequences.

Keywords: Decision Maker; Grade Point Average; Skill Score; Magic Number; Roulette Wheel (search for similar items in EconPapers)
Date: 2016
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-319-39756-6_9

Ordering information: This item can be ordered from
http://www.springer.com/9783319397566

DOI: 10.1007/978-3-319-39756-6_9

Access Statistics for this chapter

More chapters in Springer Books from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2026-07-12
Handle: RePEc:spr:sprchp:978-3-319-39756-6_9