measure

More and more companies, government agencies, educational institutions and philanthropic organisations are today in the grip of a new phenomenon. I’ve termed it ‘metric fixation’. The key components of metric fixation are the belief that it is possible – and desirable – to replace professional judgment (acquired through personal experience and talent) with numerical indicators…

The law is implicit in the economic idea of rational expectations. While it originated in the context of market responses, the law has profound implications for the selection of high-level targets in organizations.[4] Jón Danı́elsson quotes the law as “Any statistical relationship will break down when used for policy purposes”, and suggests a corollary to…