In this paper, the author lays out a set of criteria for comparing and evaluating the spectrum of performance methodologies from "monthly holdings-based" to "capture 100% of transaction activity." In addition to specifying the components that a complete methodology should address, he offers a standard of comparison in the form of a feasible transaction-basd methodology. By doing so, he explicity attempts to raise expectations of the value and feasiblity of transaction-basd performance.

Framework for Evaluating Measurement and Attribution