...ny economists go as far as to argue that no experiments can be designed to test the statements of economic theories. It is difficult - perhaps imp... ...he experiment is. c. The Psychological Uncertainty Principle – The current mental state of a human subject can be (theoretically) fully known. But... ...ometimes, the experiment itself, influence the subject and alter his or her mental state - a problem known in economic literature as "time inconsis... ... laureate Robert Solow and, more importantly, by Paul Romer, an economist from the University of California at Berkeley, clearly demonstrates. Addi... ... of Financial Markets" by John Campbell, Andrew Lo, and Craig MacKinlay, Princeton University Press, 1997: "Consider the argument that implied vola... ...y the work of other scholars, such as Paul Weller of the Finance Department of the university of Iowa. While he admits the limitations of technical... ...stainable indefinitely." In another paper, with Paul Davidson of the University of Tennessee, the authors went as far as suggesting that America's ...