Tinkerbell effect

The Tinkerbell effect is a term describing things that are thought to exist only because people believe in them. The effect is named for Tinker Bell, the fairy in the play Peter Pan who is revived from near death by the belief of the audience.

Claimed cases include:

private property
the value of a nation's money in a fiat system
the value of gold
civil society
the "rule of law"^[1]

Reverse Tinkerbell effect

The Efficient Market Hypothesis is regarded as a case of reverse Tinkerbell effect.^[2]

See also

References

^ Stewart, Cameron (2004), "The Rule of Law and the Tinkerbell Effect: Theoretical Considerations, Criticisms and Justifications for the Rule of Law", Macquarie Law Journal 4 (7): 135–164, http://www.law.mq.edu.au/html/MqLJ/volume4/vol4_stewartc.pdf .
^ Rall, Eric (2010-10-14). "Efficient Market Hypothesis and the Tinkerbell Effect". http://deanesmay.com/2010/10/14/efficient-market-hypothesis-and-the-tinkerbell-effect/. Retrieved 2011-11-06.