I spent a year testing the claim that economic value is a conventional base dimension, with every test hash-frozen before seeing data. Debrief: what survived, what died, and the objection I most want attacked
I'm an independent researcher. A manuscript of mine is under review at a methodology journal arguing that value should be treated as a base dimension in the SI sense: conventional the way the metre is, anchored to a dated wage unit, with the currency as a decaying instrument that measures it.
I know how that sounds. So the paper's spine is procedural rather than rhetorical: every empirical test was preregistered and frozen by SHA-256 hash before any datum was gathered, decision tables fixed in advance, hostile cases named before the data could object, falsification arms run on honest controls, protocol defects recorded beside verdicts and never repaired, and refutations published at the same prominence as confirmations. A 391-file deposit (every protocol, dataset, script, plus a certificate that reruns 21 studies end to end) stands behind it.
What survived the attempt to kill it:
- An item's modal price migrates at the item's own cumulative inflation rate: slope 0.976 (se 0.088) against a predicted 1, on 424 matched UK product types across 15 years of price-quote microdata.
- The quotation grid is scale-free (relative, not nominal, attractor positions) at 10.8 sigma.
- 285 of 286 adjacent coin/note denomination ratios across 30 currencies sit in the 1-2-5 family, and both pre-named hostile cases behaved: 1960 pre-decimal sterling broke the family, 1900 US conformed.
What died, at equal volume:
- Coins do not retire at a universal real value: the preregistered replication refuted the program's own earlier claim, CI [-2.06, -1.17] against a predicted -1.
- The note-to-coin conversion frontier is not a constant: 33-fold scatter. It survives only as a band.
- A conjectured price-point lifetime law returned slope -0.001 where naive theory wanted +1.
- A fraud-detection corollary validated on Argentina's censured 2007-2015 statistics (the state's own wage gazette recovers the true inflation rate) but failed its generality test: blind at hyperinflation, inconclusive for Turkey. Its validity domain is now measured, and it is narrow.
Status, stated plainly: one author, under review, zero independent replications yet. Two predictions are hashed against future events (Iran's approved redenomination, the next window of UK price microdata), so parts of this will be graded by the world no matter what anyone thinks of it.
The objection I most want attacked: that V is just numeraire choice plus careful deflator practice, and the dimensional formalism adds nothing testable that index-number theory doesn't already have. I have an answer (the formalism generated the migration and grid predictions before measurement, and a dimensional audit of published metrics catches malformed statistics that type-check fine under numeraire thinking), but if you think that answer fails, that is exactly the comment I'm here for.
Preprint: https://philpapers.org/rec/GUAVAA