Escape from Model Land: How Mathematical Models Can Lead Us Astray and What We Can Do About It - Softcover

Thompson, Erica

Softcover

ISBN 10: 1529364892 ISBN 13: 9781529364897

Publisher: Basic Books, 2023

Synopsis

''A brilliant account of how models are so often abused and of how they should be used'' John Kay

How do mathematical models shape our world - and how can we harness their power for good?

Models are at the centre of everything we do. Whether we use them or are simply affected by them, they act as metaphors that help us better understand the increasingly complex problems facing us in the modern world. Without models, we couldn''t begin to tackle three of the major challenges facing modern society: regulation of the economy, climate change and the COVID-19 pandemic. Yet in recent years, the validity of the models we use has been hotly debated and there has been renewed awareness of the disastrous consequences when the makers and interpreters of models get things wrong.

Drawing on contemporary examples from finance, climate and health policy, Erica Thompson explores what models are, why we need them, how they work and what happens when they go wrong. This is not a book that argues we should do away with models, but rather, that we need to properly understand how they are constructed - and how some of the assumptions that underlie the models we use can have significant unintended consequences. Unexpectedly humorous, thought-provoking and passionate, this is essential reading for everyone.

About this title

About the Author

Erica Thompson is a senior policy fellow at the London School of Economics' Data Science Institute and a fellow of the London Mathematical Laboratory. With a PhD from Imperial College, she has recently worked on the limitations of models of COVID-19 spread, humanitarian crises, and climate change. She lives in West Wales.

From the Back Cover

How do mathematical models shape our world - and how can we harness their power for good?

Models are at the centre of everything we do. Whether we use them or are simply affected by them, they act as metaphors that help us better understand the increasingly complex problems facing us in the modern world. Without models, we couldn't begin to tackle three of the major challenges facing modern society: regulation of the economy, climate change and the COVID-19 pandemic. Yet in recent years, the validity of the models we use has been hotly debated and there has been renewed awareness of the disastrous consequences when the makers and interpreters of models get things wrong.

Drawing on contemporary examples from finance, climate and health policy, Erica Thompson explores what models are, why we need them, how they work and what happens when they go wrong. This is not a book that argues we should do away with models, but rather, that we need to properly understand how they are constructed - and how some of the assumptions that underlie the models we use can have significant unintended consequences. Unexpectedly humorous, thought-provoking and passionate, this is essential reading for everyone.

Edition details

• Publisher: Basic Books
• Publication date: 2023
• ISBN 10: 1529364892
• ISBN 13: 9781529364897
• Binding: Paperback
• Language: English
• Edition number: 1
• Number of pages: 256