The Mathematical Modelers’ Hippocratic Oath

The Financial Modelers’ Manifesto was a proposal for more responsibility in risk management and quantitative finance written by financial engineers Emanuel Derman and Paul Wilmott. The manifesto includes a Modelers’ Hippocratic Oath.

The Modelers’ Hippocratic Oath

I will remember that I didn’t make the world, and it doesn’t satisfy my equations.

Though I will use models boldly to estimate value, I will not be overly impressed by mathematics.

I will never sacrifice reality for elegance without explaining why I have done so.

Nor will I give the people who use my model false comfort about its accuracy. Instead, I will make explicit its assumptions and oversights.

I understand that my work may have enormous effects on society and the economy, many of them beyond my comprehension

One thought on “The Mathematical Modelers’ Hippocratic Oath”

Comments are closed.