Source: David Brancaccio (2013) " Nobel Prize in Economics winner Lars Peter Hansen on imperfect models http://www.marketplace.org/topics/economy/nobel-prize-economics-winner-lars-peter-hansen-imperfect-models" at marketplace.org.
“Fortunately, there is a strategy that does double duty: it both helps you keep control of your own insights, and makes those insights accessible to others. The strategy is: always try to express your ideas in the simplest possible model. The act of stripping down to this minimalist model will force you to get to the essence of what you are trying to say (and will also make obvious to you those situations in which you actually have nothing to say). And this minimalist model will then be easy to explain to other economists as well.”
How I Work (1993)
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Paul Krugman 106
American economist 1953Related quotes
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" How I Work http://web.mit.edu/krugman/www/howiwork.html", American Economist (1993)
House Science, Space, and Technology Committee Hearing on Coronavirus (March 5, 2020)
                                        
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