Making Sense of Models: A Parsimonious Solution

by Dr. Gary Nan Tie & Dr. Bob Mark

A featured article of our April 2021 edition of PRMIA's Intelligent Risk quarterly newsletter

We all need to understand how scientists, economists and doctors use models. This is especially true today since models are used to guide our public health policy for pandemics, and we are in the early stages of receiving vaccinations against the SARS-CoV-2 virus. A subway map, a wind tunnel aircraft mockup, an architect’s virtual preview are simple examples of models. A more sophisticated model consists of mathematical distillations of relevant features of a problem that we want to solve.

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Intelligent Risk is PRMIA's quarterly publication, bringing all PRMIA members free access to knowledge and information about risk management for financial institutions as well as current information on PRMIA chapters, committees, academic partners, news and events.

 

Individual articles from each edition are published under our members only Risk Library resources section. PRMIA is sharing select articles from the April 2021 edition with the public. Get more articles like this by joining PRMIA today.

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