Mathematic V. Conceptual Modeling Limitations Thesis

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" This reflects the gap that exists between the complexities of the real world and the abilities of abstract models. Models are by definition simplified ways of understanding complex phenomenon; they are necessarily incomplete in their estimations and valuations of real world figures and occurrences. This is why "all models are wrong." "Some models are useful," however, because they are able to approximate to a high degree the outcomes of real world events despite the incomplete nature of the information processed by the model.

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To make a model useful, bias must be removed. This is not an issue with the certainty of mathematical models, but conceptual models are necessarily subjective, built on the modeler's understanding of an issue. Reducing bias is key to the model's performance......

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