1. A computer-implemented method for model selection, the computer-implemented method comprising: (a) providing an ensemble of reservoir models that define an input uncertainty space; (b) inputting a target number of representative models and one or more target percentiles of output variables that the representative models are to approximate; and (c) selecting the representative models from the ensemble of reservoir models that match the one or more target percentiles of output variables while maximizing the spread between the selected representative models in the input uncertainty space.