Comment by xpe
2 months ago
A nice generalization.
An example in statistics is the expectation operator. You can throw away a lot of detail if you only care about one central moment. And if you need more information about a distribution, add more moments.
Also, this works for public policy. Frame everything as a well functioning market and hope for the best. /s
But seriously, a nice intuition.
Well, “think of the other points as (fixed point) + (small perturbation) and reduce your work to handling the perturbation” is literally how modern economic models (DSGE) are studied and then used for public policy.