We incorporate probabilistic modeling into our economic forecasts
Deterministic models are slowly being replaced by probabilistic forecasts. We can help you incorporate statistic based forecasts that will lead to more accurate planning for unpredictable times
Why aren't PhD's in economics getting hired?
Economics is a science that has gone awry with over formalization. Mathematicians have infiltrated the science of economics, and made it rigorous, akin to physics, in an effort to bring validity to the study. However, though they have been successful in creating elegant models that self-equalize to equilibriums and optimums, the models simply don't reflect our economic reality. Thus, mainstream economics is more beautiful than ever, and is accordingly about as useful as art to businesses.
However, it's not all bad. There have been a vociferous minority of economists that have remained grounded in reality, and understanding the world as it is instead of as it should be. At Init, we recognize that the fundamentals of analysis that economics practices are immensely valuable when applied correctly. In fact, a well trained economist can transform a company by leveraging the accuracy of an accountant with the market knowledge of an analyst. We apply realistic stochastic models to accurately describe customer behavior and prices. The most successful businesses always prioritize their customers and price points.
However, it's not all bad. There have been a vociferous minority of economists that have remained grounded in reality, and understanding the world as it is instead of as it should be. At Init, we recognize that the fundamentals of analysis that economics practices are immensely valuable when applied correctly. In fact, a well trained economist can transform a company by leveraging the accuracy of an accountant with the market knowledge of an analyst. We apply realistic stochastic models to accurately describe customer behavior and prices. The most successful businesses always prioritize their customers and price points.
We do real analysis for our clients on what matters, incorporating new behavioral economic research with data science. For example, click below to download a brief on Iran that evaluates the changing business climate on the Middle East