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Meta-Regression Analysis as the Socio-Economics of Economic Research

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  • T.D. Stanley

    ()
    (Hendrix College)

  • Chris Doucouliagous

    ()
    (Deakin University)

  • Stephen B. Jarrell

    ()
    (Western Carolina University)

Abstract

Meta-regression analysis (MRA) provides an empirical framework through which to integrate disparate economic research results, filter out likely publication bias, and explain their wide variation using socio-economic and econometric explanatory variables (Stanley and Jarrell, 1989, Stanley, 2001, Doucouliagos, 2005, Stanley, 2005a). In dozens of applications, MRA has found excess variation among reported research findings, some of which is explained by socio-economic variables (e.g., researcher’s gender) and most of which contains publication bias (Card and Krueger, 1995, Stanley, 1998, Stanley and Jarrell, 1998, Ashenfelter et al.,1999, Görg and Strobl, 2001, Stanley, 2001, Doucouliagos and Laroche, 2003, Abreu, de Groot and Florax, 2005, Doucouliagos, 2005, Rose and Stanley, 2005, Stanley, 2005a). Publication bias is itself a socio-economic phenomenon. When researchers’ compensation is based on their publication records, all available research degrees of freedom will be used to increase its probability. MRA can empirically model and test socio-economic theories about economic research. The socio-economics of the academy can explain why excess variation (beyond the classical, random sampling errors that conventional standard errors measure) will likely dominate many areas of empirical economic research, and MRA can explain how. Here, we make two strong claims: socio-economic MRAs, broadly conceived, explain much of the excess variation routinely found in empirical economic research; whereas, any other type of literature review (or summary) is biased.

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File URL: http://www.deakin.edu.au/buslaw/aef/workingpapers/papers/2006_21eco.pdf
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Bibliographic Info

Paper provided by Deakin University, Faculty of Business and Law, School of Accounting, Economics and Finance in its series Economics Series with number 2006_21.

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Length: 25 pages
Date of creation: 13 Nov 2006
Date of revision:
Handle: RePEc:dkn:econwp:eco_2006_21

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References

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