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One Swallow Doesn't Make a Summer: Reply to Kataria

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  • Zacharias Maniadis
  • Fabio Tufano
  • John A. List

Abstract

In 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 Info

Article provided by Econ Journal Watch in its journal Econ Journal Watch.

Volume (Year): 11 (2014)
Issue (Month): 1 (January)
Pages: 11-16

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Handle: RePEc:ejw:journl:v:11:y:2014:i:1:p:11-16

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Keywords: Economic methodology; statistical inference;

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References

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  1. Oswald, Andrew J., 2006. "An Examination of the Reliability of Prestigious Scholarly Journals: Evidence and Implications for Decision-makers," IZA Discussion Papers 2070, Institute for the Study of Labor (IZA).
  2. John Ioannidis & Chris Doucouliagos, 2013. "What'S To Know About The Credibility Of Empirical Economics?," Journal of Economic Surveys, Wiley Blackwell, Wiley Blackwell, vol. 27(5), pages 997-1004, December.
  3. Christoph Engel, 2011. "Dictator games: a meta study," Experimental Economics, Springer, Springer, vol. 14(4), pages 583-610, November.
  4. J. Bradford De Long & Kevin Lang, . "Are All Economic Hypotheses False?," J. Bradford De Long's Working Papers, University of California at Berkeley, Economics Department _117, University of California at Berkeley, Economics Department.
  5. Mitesh Kataria, 2014. "One Swallow Doesn't Make a Summer: A Comment on Zacharias Maniadis, Fabio Tufano, and John List," Econ Journal Watch, Econ Journal Watch, Econ Journal Watch, vol. 11(1), pages 4-10, January.
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Cited by:
  1. Greg Fischer & Dean Karlan & Margaret McConnell & Pia Raffler, 2014. "To Charge or Not to Charge: Evidence from a Health Products Experiment in Uganda," NBER Working Papers 20170, National Bureau of Economic Research, Inc.
  2. Kathryn Graddy & Lara Loewenstein & Jianping Mei & Mike Moses & Rachel Pownall, 2014. "Anchoring or Loss Aversion? Empirical Evidence from Art Auctions," Working Papers, Brandeis University, Department of Economics and International Businesss School 73, Brandeis University, Department of Economics and International Businesss School.

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