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There are two ways a model can be wrong. The first is if the author makes a mistake in solving it and deduces incorrect implications. In this sense the original Hotelling model was wrong, because Hotelling deduces a "principle of minimum differentiation" from it. In the 1970's using game theory economists proved that with simple linear costs, there is no pure Nash equilibrium. Furthermore, with quadratic transportation costs, firms instead differentiate as much as they can in order to weaken price competition.
The second way in which a model can be wrong is if it fails to reflect reality. Since there is no clear prediction coming out of the literature, it is hard to assess in this case (a problem with economics in general!).
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When did Harold Hotelling die?
Harold Hotelling died on 1973-12-26.
When was Harold Hotelling born?
Harold Hotelling was born on 1895-09-29.
What has the author Harold Hotelling written?
Harold Hotelling has written: 'Three-dimensional manifolds of states of motion'
What has the author Kirstin Hotelling Zona written?
Kirstin Hotelling Zona has written: 'Marianne Moore, Elizabeth Bishop, and May Swenson' -- subject(s): American Feminist poetry, American poetry, Criticism and interpretation, Feminism and literature, History, History and criticism, Self-control in literature, Women and literature, Women authors
Probability distribution function of Hotelling's T-square distribution?
there is no pdf in hottling t sq test there is only mdf or it has multivariate distribution function
What has the author Archille Joseph Laferriere written?
Archille Joseph Laferriere has written: 'A comparison of Thurstone's centroid method of factor analysis with Hotelling's method of principal components'
How are atoms identical?
they are not identical. Dalton's model was wrong.
What do scientists do if data shows that a model is wrong?
Someone answer this
What do scientists do if data show that a model is wrong?
Someone answer this
How do you fix a be be gun?
It all depends on the model and what is wrong with it.
What happens if a model's predictions turn out to be incorrect?
They go to the wrong road and the have to create a new model.
What evidence arose that proved the geocentric model wrong?
It was proven wrong because that they were eclipse and change of seaon.
