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In a 2013 article in ''[[Foreign Policy (magazine)|Foreign Policy]]'', Alex Cobham suggested that CPI should be dropped for the good of Transparency International. It argues that the CPI embeds a powerful and misleading elite bias in popular perceptions of corruption, potentially contributing to a vicious cycle and at the same time incentivizing inappropriate policy responses. Cobham writes, "the index corrupts perceptions to the extent that it's hard to see a justification for its continuing publication."<ref name="Cobham, Alex">{{cite journal |last=Cobham |first=Alex |date=22 July 2013 |title=Corrupting Perceptions |url=https://foreignpolicy.com/articles/2013/07/22/corrupting_perceptions |journal=[[Foreign Policy]] |access-date=6 March 2017 |archive-date=4 December 2014 |archive-url=https://web.archive.org/web/20141204010800/http://www.foreignpolicy.com/articles/2013/07/22/corrupting_perceptions |url-status=dead }}</ref>
Recent econometric analyses that have exploited the existence of [[natural experiment]]s on the level of corruption and compared the CPI with other subjective indicators have found that, while not perfect, the CPI is argued to be broadly consistent with one-dimensional measures of corruption.<ref>{{cite journal |last=Hamilton |first=Alexander |author2= Craig Hammer |year=2017 |title=Can We Measure the Power of the Grabbing Hand? A Comparative Analysis of Different Indicators of Corruption |url=http://documents.worldbank.org/curated/en/113281515516828746/pdf/WPS8299.pdf |journal=Policy Research Working Paper Series |publisher= World Bank |issue= 8299 |doi=10.1596/1813-9450-8299 |hdl=10986/29162 }}</ref>
In the United States, many lawyers advise international businesses to consult the CPI when attempting to measure the risk of [[Foreign Corrupt Practices Act]] violations in different nations. This practice has been criticized by the ''Minnesota Journal of International Law'', which wrote that since the CPI may be subject to perceptual biases it therefore should not be considered by lawyers to be a measure of actual national corruption risk.<ref name="ssrn.com">{{Cite journal |last=Campbell |first=Stuart |date= 2013 |title=Perception is Not Reality: The FCPA, Brazil, and the Mismeasurement of Corruption |url=https://minnjil.org/wp-content/uploads/2015/04/CAMPBELL-FCPA-in-Brazil-22-MINN-J-INTL-L-247-Winter-2013.pdf | journal= Minnesota Journal of International Law | volume=22|number= 1| pages= 247–282 |___location=Rochester, NY|ssrn=2210019 }}</ref>
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