variance of production exceeds the variance of sales” Uses Already in the original paper, Kaldor used his stylized facts of economic growth to argue in favor of his suggested model in comparison to older neoclassical models of economic growth. This idea has been highlighted subsequently by Boland, that the advantages of one model over the other can be set in a clear perspective via the reference of the stylized facts the respective models can explain. Additionally, stylized facts can be used to look "under the hood of models", i.e. be used to validate assumptions of model in a focused way. This can be of particular importance in more complex models. Econophysics/Statistical finance begins from stylized facts. Furthermore, the considerable potential of Stylized Facts for Information Systems research has been investigated and discussed in recent years. Criticism and derivation Already in an early response Solow pinpointed a possible problem of stylized facts, by stating that there "is no doubt that they are stylized, though it is possible to question whether they are facts". The criticized practice of deriving stylized facts ad hoc is still quite prevalent in economics. Still, some possible approaches to derive stylized facts from empirical evidence have been suggested, such as surveying experts, statistically analysing large data sets (especially suitable for financial markets) or aggregating both qualitative and quantitative data from different empirical methods by following a systematic process. See also Mathiness Idealised population References Economics laws Economic methodology