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(Any model based on a flawed theory, cannot transcend the limitations of that theory.) Joseph Stiglitz' 2001 Nobel Prize lecture reviews his work on information asymmetries, [1] which contrasts with the assumption, in standard models, of "perfect information". Stiglitz surveys many aspects of these faulty standard models, and the faulty policy ...
In Māori mythology, Te Wheke-a-Muturangi is a monstrous octopus destroyed in Whekenui Bay, Tory Channel or at Patea by Kupe the navigator. The octopus was a pet or familiar of Muturangi, a powerful tohunga of Hawaiki. The wheke was nonetheless a wild creature and a guardian. When Kupe reached New Zealand, he encountered the beast off Castlepoint.
Kupe followed in his canoe a monstrous octopus called Te Wheke-a-Muturangi across Cook Strait and destroyed it in Tory Channel or at Pātea. When Dutch explorer Abel Tasman first saw New Zealand in 1642, he thought Cook Strait was a bight closed to the east. He named it Zeehaen's Bight, after the Zeehaen, one of the two ships in his expedition.
Despite having minimal acting experience, Wallace was cast in the lead role of Te Wheke in Geoff Murphy's acclaimed 1983 film Utu. [1] In 1985 he appeared in The Silent One, The Quiet Earth and Dangerous Orphans. [3] Shortly afterwards, he departed for Australia, returning to New Zealand in 2013. [3] He appeared in Shortland Street as Rocky ...
George Box. The phrase "all models are wrong" was first attributed to George Box in a 1976 paper published in the Journal of the American Statistical Association.In the paper, Box uses the phrase to refer to the limitations of models, arguing that while no model is ever completely accurate, simpler models can still provide valuable insights if applied judiciously. [2]
The name Kura Te Au originates from the red colour of the sea caused by a variety of plankton and the high populations of crustacean krill. According to legend, Kura Te Au is where Kupe killed the giant, mythical octopus, Te Wheke-a-Muturangi, causing its blood to run through the channel, turning the water red.
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Another theory for Te Wheke-a-Muturangi states that the name actually refers to the many navigation paths centred on Ra'iātea with the tentacles reaching out across the pacific (Tetahiotupa 2009). [ 1 ]