Sure you can. As long as it is scaled down in perportion to the full size it is modeled after it will show the same characteristics. The lil boats use the same physics as the full size just on a smaller scale.
Try telling that to engineers, developers, or an architect. NASA, our government, construction companies, car companies, bridge builders, full size airplane developers, boat builders, etc., etc...... all use models for development and research.

The difference with the little guys is that we don't have occupants onboard the boat. That allows us to try different setups. Some of which would really jeopardize the safety of others.

I use knowledge from the full size world to build my boats and make modifications. I have friends that build custom airboats for a living, they also drag race them. They also build lil boats and use the same technology they use in their full size boats.