4min chapter

Energy Unplugged by Aurora cover image

EP.43 Models and their role in the energy transition: an Aurora perspective

Energy Unplugged by Aurora

CHAPTER

The Differences Between Modeling Complex Physical Systems and Economic Modeling

How do you compare modeling this kind of complex physical systems to modeling of of markets or of economic systems in a way? I think probably where markets differ a bit, I suppose is where the kind of the human behavior aspect comes in. So yes, in terms of what we use, we use both the statistical and the fundamental approaches in our modeling.

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