Related: Fungus arbitrage https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6584331/
What is the difference between a generic “signal” and a “price signal”? What is a “price” in physiology? I think it would be interesting to see what insights an economic perspective of physiology would provide, but the constructs need to be defined pretty clearly so analogies can be drawn.
Another question is which basic assumptions embraced in economics can reasonably apply to the units of analysis in physiology (cells, etc.). Economists already have a hard enough time validating assumptions for humans.
This is aleatory (inherent randomness) vs. epistemic (knowledge) uncertainty. You can parse this as uncertainty inherent in the parameters vs. uncertainty inherent in your estimates of the parameters / the parameterization of the model.
This is a very important distinction that has received treatment in the prediction literature but, indeed, is not applied enough to interpreting others’ predictions among laypeople.