One Swallow Doesn't Make a Summer: Reply to Kataria
AbstractIn this paper we reply to Mitesh Kataria’s comment, which criticized the simulations of Maniadis, Tufano, and List (2014, Am. Econ. Rev. 104(1), 277-290). We view these simulations as a means to illustrating the fact that we economists are unaware of the value of key variables that determine the credibility of our own empirical findings. Such variables include priors (i.e., the pre-study probability that a tested phenomenon is true) and the statistical power of the empirical design. Economists should not hesitate to use Bayesian tools and meta-analysis in order to quantify what we know about these variables.
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Bibliographic InfoArticle provided by Econ Journal Watch in its journal Econ Journal Watch.
Volume (Year): 11 (2014)
Issue (Month): 1 (January)
Economic methodology; statistical inference;
Find related papers by JEL classification:
- B40 - Schools of Economic Thought and Methodology - - Economic Methodology - - - General
- C10 - Mathematical and Quantitative Methods - - Econometric and Statistical Methods and Methodology: General - - - General
- C80 - Mathematical and Quantitative Methods - - Data Collection and Data Estimation Methodology; Computer Programs - - - General
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