Because an economy is a complex system, economists encounter a gap between theory and application. To do justice to the complexity of the economy, more and more comprehensive models were built. This development was not justified by its results: more comprehensiveness did not lead to better...

There are at least two elements of theory completion necessary for measurement: (1) a measurement formula and (2) standardization of that representation. Standardization is based on the search for stability. The more stable the correlation which the measurement formula represents is, the less...