Why Should We Pay So Much Attention to Models of Economics?

Josinno: Economists rely on assumptions about how people behave. He says they try to pick out the two or three or ten things that really, really matter. Josinno and his colleagues built a complex model using all sorts of data and assumptions. They focused on what they call high skill workers - college graduates who do home work. The office, they assumed, was in some sort of central business district.