[jpiabrantes]

Captain Obvious: real world transactions don’t look anything like this.

[TuringNYC]

Sometimes we needs to start with a simpler model, demonstrate concepts, and work our way up. Of course, it is important to acknowledge the model is simple.

[empiricus]

How would you better model real world transaction?

[ploika]

To be fair, the answer to that question is probably someone's PhD thesis.

[empiricus]

Quite possible, but he started with "Captain Obvious" so I hoped that meant he knows other models that are obviously better.

[randallsquared]

Even if they do know other economic simulations which are better, it isn't a given that a better tool exists for every tool that doesn't ideally meet a need. Of course, you did say "hoped" instead of "expected"...