Kim Sawyer

Measurement is a special type of evaluation that is more exact than either opinion or estimation. In the social sciences, in particular, most evaluations are not measures, but rather mixtures of opinion and estimation. Over-measurement represents anchoring to evaluations which are not measures. For an over-measured characteristic, single measures are used when instead a portfolio of possible measures should be used. There are three implications. First, measurements of characteristics which depend on the over-measured characteristic are biased. Secondly, decisions which depend on the over-measured characteristic are biased. Thirdly, over-measurement biases the measurement of uncertainty.

This paper considers the relevance of the Duhem-Quine thesis in economics. In the introductory discussion which follows, the meaning of the thesis and a brief history of its development are detailed. The purpose of the paper is to discuss the effects of the thesis in four specific and diverse theories in economics, and to illustrate the dependence of testing the theories on a set of auxiliary hypotheses. A general taxonomy of auxiliary hypotheses is provided to demonstrate the confounding of auxiliary hypotheses with the testing of economic theory.

This paper considers the relevance of the Duhem-Quine thesis in economics. In the introductory discussion which follows, the meaning of the thesis and a brief history of its development are detailed. The purpose of the paper is to discuss the effects of the thesis in four specific and diverse theories in economics, and to illustrate the dependence of testing the theories on a set of auxiliary hypotheses. A general taxonomy of auxiliary hypotheses is provided to demonstrate the confounding of auxiliary hypotheses with the testing of economic theory.