Even tough those are very robust models, they can still end up being wrong given some policy (some asset distributed via first come first served or via a lotter

Even tough those are very robust models, they can still end up being wrong given some policy (some asset distributed via first come first served or via a lottery to avoid price increase for instance). The only real definition I see is the equation of exchange which is purely mathematical and not linked to any real world data, but there are probably many other that are definitions and not theories / models.