Variations of the Observer Error

observer error: An error of observation or measurement due to failure of the observer to identify, measure accurately, or interpret some aspect of the phenomena that are being observed. This can have many reasons and causes, including careless or hasty measurements, faulty instruments, erroneous or illogical interpretation, and/or any of many possible sources of bias. It erodes the credibility of science when it occurs. Oxford Reference

Lucas critique argues that it is naive to try to predict the effects of a change in economic policy entirely on the basis of relationships observed in historical data, especially highly aggregated historical data. (Wiki).

Lucas critique (version 2): "Any statistical relationship will break down when used for policy purposes". Danielsson's corollary: A financial risk model breaks down when used for regulatory purposes.


Campbell's law: "The more any quantitative social indicator is used for social decision-making, the more subject it will be to corruption pressures and the more apt it will be to distort and corrupt the social processes it is intended to monitor."

Goodhart's Law: "Any observed statistical regularity will tend to collapse once pressure is placed upon it for control purposes." (Wiki)