What is crucial from the viewpoint of Barnesian performativity is that the agreement between the Capital Asset Pricing Model and empirical data does not seem to have improved after the model was formulated. If anything, tests on later data suggested poorer agreement than the original tests, which were conducted using price series stretching back into the period before the Capital Asset Pricing Model was formulated. It is thus difficult to find in the econometric literature any persuasive evidence for the Barnesian performativity of the model.

Donald MacKenzie, An Engine, Not a Camera, loc. 1147