What is key difference between econometric methods and ml

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Problem

1. What is the key difference between econometric methods and ML? How would economics and finance benefit from updating their statistical toolkit?

2. Science has a very minimal understanding of how the human brain (or any brain) works. In this sense, the brain is an absolute black box. What do you think causes critics of financial ML to disregard it as a black box, while embracing discretionary investing?

Reference no: EM131926743

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