Goodhart's Law - Expressions

Expressions

  • Any observed statistical regularity will tend to collapse once pressure is placed upon it for control purposes.
(Goodhart's original 1975 formulation, reprinted on p. 116 in Goodhart 1981)
  • A risk model breaks down when used for regulatory purposes. (Daníelsson, 2002)
(Daníelsson formally labels this a corollary of Goodhart's Law.)
  • When a measure becomes a target, it ceases to be a good measure.
(Professor Marilyn Strathern FBA)
  • Goodhart's law is a generalized social science expression of the more well-known and economic-specific Lucas critique.

Read more about this topic:  Goodhart's Law

Famous quotes containing the word expressions:

    “Its idea of “production value” is spending a million dollars dressing up a story that any good writer would throw away. Its vision of the rewarding movie is a vehicle for some glamour-puss with two expressions and eighteen changes of costume, or for some male idol of the muddled millions with a permanent hangover, six worn-out acting tricks, the build of a lifeguard, and the mentality of a chicken-strangler.”
    —Raymond Chandler (1888–1959)

    “Let it be signified to me through any channel ... that the possession of the Floridas would be desirable to the United States, and in sixty days it will be accomplished.
    ...penned in the language of truth, and divested of those expressions of servility which would persuade his majesty that we are asking favors and not rights.”
    —Thomas Jefferson (1743–1826)

    “We ought to celebrate this hour by expressions of manly joy. Not thanks, not prayer seem quite the highest or truest name for our communication with the infinite,—but glad and conspiring reception,—reception that becomes giving in its turn, as the receiver is only the All-Giver in part and infancy.”
    —Ralph Waldo Emerson (1803–1882)