quote fr the model guy:
Quote:
So you've got to be a little bit pragmatic. You've got to take your model really seriously and build a consistent model that captures the biggest effect or maybe some of the smallest effects that affect the value of the thing you're pricing.
You want to be very mathematically consistent, but then at the end you want to step back and say, "Is this the way the world really works?"
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The answer with horseracing,
is everything is irrelevant if they using the super juice,
their animals defy biases, trips, getting left a dozen lengths,
nothing else matters but the trainer name some times,
and that is how "our world really works".