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The McNamara fallacy is often considered in the context of the Vietnam War, in which enemy body counts were taken to be a precise and objective measure of success. War was reduced to a mathematical model: By increasing estimated enemy deaths and minimizing one's own, victory was assured.
The book discusses the extent to which psychology can measure mental attributes such as intelligence and examines the philosophical issues that arise from such attempts. The book examines three major models within psychometrics ; classical test theory /true scores, latent variables / item response theory and representational measurement theory .
Goodhart's law is an adage often stated as, "When a measure becomes a target, it ceases to be a good measure". [1] It is named after British economist Charles Goodhart, who is credited with expressing the core idea of the adage in a 1975 article on monetary policy in the United Kingdom: [2]
Here’s a closer look at the Oracle of Omaha’s method of tracking success. How to measure your success. Buffett believes that, beyond a certain level of wealth, people’s lifestyles and ...
Academic articles that provide critical reviews of performance measurement in specific domains are also common—e.g. Ittner's observations on non-financial reporting by commercial organisations,; [10] Boris et al.'s observations about use of performance measurement in non-profit organisations, [11] or Bühler et al.'s (2016) analysis of how external turbulence could be reflected in ...
The true odds against winning for each of the three horses are 1–1, 3–2 and 9–1, respectively. In order to generate a profit on the wagers accepted, the bookmaker may decide to increase the values to 60%, 50% and 20% for the three horses, respectively. This represents the odds against each, which are 4–6, 1–1 and 4–1, in order.
Campbell's law is an adage developed by Donald T. Campbell, a psychologist and social scientist who often wrote about research methodology, which states: . 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.
This is an accepted version of this page This is the latest accepted revision, reviewed on 14 January 2025. Meeting or surpassing an intended goal or objective For other uses, see Success (disambiguation). A Nigerian man receives the smallpox vaccine in February 1969, as part of a global program that successfully eradicated the disease from the human population. Success is the state or ...