Squandering Big Data?

The video discusses the inevitability of building powerful simulations of the social world using computer models, specifically agent-based modeling. It highlights the importance of understanding the assumptions underlying these models, as incorrect assumptions can lead to inaccurate representations. The speaker emphasizes the need for accurate modeling of the social world and expresses concern about institutionalizing incorrect modeling practices as social science evolves.

In what ways can agent-based modeling be applied to understand interactions in the social world?

What does the speaker suggest is necessary for constructing new models of the social world?