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Non-Standard Errors

Author

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  • Menkveld, Albert J.

    (Vrije Universiteit Amsterdam)

  • Dreber, Anna

    (Stockholm School of Economics)

  • Holzmeister, Felix

    (University of Innsbruck)

  • Huber, Juergen

    (University of Innsbruck)

  • Johannesson, Magnus

    (Stockholm School of Economics)

  • Kirchler, Michael

    (University of Innsbruck)

  • Neusüss, Sebastian
  • Razen, Michael

    (University of Innsbruck)

  • Weitzel, Utz

    (Vrije Universiteit Amsterdam)

  • Abad-Díaz, David

    (University of Alicante)

  • Abudy, Menachem

    (Bar-Ilan University)

  • Adrian, Tobias

    (International Monetary Fund)

  • Ait-Sahalia, Yacine

    (Princeton University)

  • Akmansoy, Olivier

    (CNRS)

  • Alcock, Jamie T.

    (University of Oxford)

  • Alexeev, Vitali

    (University of Technology Sydney)

  • Aloosh, Arash

    (Neoma Business School)

  • Amato, Livia

    (University of Chicago Booth School of Business)

  • Amaya, Diego

    (Wilfrid Laurier University)

  • Angel, James J.

    (Georgetown University)

  • Avetikian, Alejandro T.

    (Pontificia Universidad Católica de Chile)

  • Bach, Amadeus

    (University of Mannheim)

  • Baidoo, Edwin

    (Tennessee Technological University)

  • Bakalli, Gaetan

    (Auburn University)

  • Bao, Li

    (Toulouse 1 Capitole University)

  • Barbon, Andrea

    (University of St. Gallen)

  • Bashchenko, Oksana

    (SFI at University of Lausanne)

  • Bindra, Parampreet C.

    (University of Innsbruck)

  • Bjønnes, Geir H.

    (BI Norwegian Business School)

  • Black, Jeffrey R.

    (University of Memphis)

  • Black, Bernard S.

    (Northwestern University)

  • Bogoev, Dimitar

    (EDF Energy London)

  • Bohorquez Correa, Santiago

    (Universidad EAFIT)

  • Bondarenko, Oleg

    (University of Illinois at Chicago)

  • Bos, Charles S.

    (Vrije Universiteit Amsterdam)

  • Bosch-Rosa, Ciril

    (Technische Universität Berlin)

  • Bouri, Elie

    (Lebanese American University)

  • Brownlees, Christian

    (Universitat Pompeu Fabra)

  • Calamia, Anna

    (TBS Education)

  • Cao, Viet Nga

    (Monash University)

  • Capelle-Blancard, Gunther

    (University Paris 1 Pantheon-Sorbonne)

  • Capera Romero, Laura M.

    (Vrije Universiteit Amsterdam)

  • Caporin, Massimiliano

    (University of Padova)

  • Carrion, Allen

    (University of Memphis)

  • Caskurlu, Tolga

    (University of Amsterdam)

  • Chakrabarty, Bidisha

    (Saint Louis University)

  • Chen, Jian

    (Queen's University)

  • Chernov, Mikhail

    (UCLA)

  • Cheung, William

    (Waseda University)

  • Chincarini, Ludwig B.

    (University of San Francisco)

  • Chordia, Tarun

    (Emory University)

  • Chow, Sheung Chi

    (Australian National University)

  • Clapham, Benjamin

    (Goethe University Frankfurt)

  • Colliard, Jean-Edouard

    (HEC Paris)

  • Comerton-Forde, Carole

    (University of Melbourne)

  • Curran, Edward

    (Macquarie University)

  • Dao, Thong

    (Nottingham Trent University)

  • Dare, Wale

    (HEC Liège - University of Liège)

  • Davies, Ryan J.

    (Babson College)

  • De Blasis, Riccardo

    (LUM University)

  • De Nard, Gianluca F.

    (University of Zurich)

  • Declerck, Fany

    (Toulouse 1 Capitole University)

  • Deev, Oleg

    (Masaryk University)

  • Degryse, Hans

    (KU Leuven)

  • Deku, Solomon Y.

    (Nottingham Trent University)

  • Desagre, Christophe

    (UCLouvain)

  • Dijk, Mathijs A. van

    (Erasmus University Rotterdam)

  • Dim, Chukwuma

    (Frankfurt School of Finance and Management)

  • Dimpfl, Thomas

    (University of Hohenheim)

  • Dong, Yun Jiang

    (Queen's University)

  • Drummond, Philip A.

    (Monash University)

  • Dudda, Tom

    (Technische Universität Dresden)

  • Duevski, Teodor

    (HEC Paris)

  • Dumitrescu, Ariadna

    (ESADE Business School, Univ. Ramon Llull)

  • Dyakov, Teodor

    (EDHEC Business School)

  • Dyhrberg, Anne Haubo

    (University of Sydney)

  • Dzieliński, Michał

    (Stockholm University)

  • Eksi, Asli

    (Salisbury University)

  • El Kalak, Izidin

    (Cardiff University)

  • Ellen, Saskia ter

    (Central Bank of Norway)

  • Eugster, Nicolas

    (University of Queensland)

  • Evans, Martin D. D.

    (Georgetown University)

  • Farrell, Michael

    (University of Virginia)

  • Felez-Vinas, Ester

    (University of Technology Sydney)

  • Ferrara, Gerardo

    (Bank of England)

  • Ferrouhi, El Mehdi

    (Ibn Tofail University)

  • Flori, Andrea

    (Politecnico di Milano)

  • Fluharty, Jonathan T.

    (West Virginia University)

  • Foley, Sean D. V.

    (Macquarie University)

  • Fong, Kingsley Y. L.

    (University of New South Wales)

  • Foucault, Thierry

    (HEC Paris)

  • Franus, Tatiana

    (Bayes Business School)

  • Franzoni, Francesco

    (Universitàdella Svizzera italiana)

  • Frijns, Bart

    (Open Universiteit)

  • Frömmel, Michael

    (Ghent University)

  • Fu, Servanna M.

    (University of Essex)

  • Füllbrunn, Sascha C.

    (Radboud University)

  • Gan, Baoqing

    (University of Technology Sydney)

  • Gao, Ge

    (University of Birmingham)

  • Gehrig, Thomas P.

    (University of Vienna)

  • Gemayel, Roland

    (King's College London)

  • Gerritsen, Dirk

    (Utrecht University)

  • Gil-Bazo, Javier

    (Universitat Pompeu Fabra)

  • Gilder, Dudley

    (Cardiff University)

  • Glosten, Lawrence R.

    (Columbia University)

  • Gomez, Thomas

    (Utrecht University)

  • Gorbenko, Arseny

    (Monash University)

  • Grammig, Joachim

    (University of Tübingen)

  • Grégoire, Vincent

    (HEC Montréal)

  • Güçbilmez, Ufuk

    (University of Glasgow)

  • Hagströmer, Björn

    (Stockholm University)

  • Hambuckers, Julien

    (HEC Liège - University of Liège)

  • Hapnes, Erik
  • Harris, Jeffrey H.

    (American University)

  • Harris, Lawrence

    (University of Southern California)

  • Hartmann, Simon

    (Vienna University of Economics and Business)

  • Hasse, Jean-Baptiste

    (Aix-Marseille University)

  • Hautsch, Nikolaus

    (University of Vienna)

  • He, Xue-Zhong (Tony)

    (Xi'an Jiaotong-Liverpool University)

  • Heath, Davidson

    (University of Utah)

  • Hediger, Simon

    (University of Zurich)

  • Hendershott, Terrence

    (UC Berkeley)

  • Hibbert, Ann Marie

    (West Virginia University)

  • Hjalmarsson, Erik

    (University of Gothenburg)

  • Hoelscher, Seth

    (Missouri State University)

  • Hoffmann, Peter

    (European Central Bank)

  • Holden, Craig W.

    (Indiana University)

  • Horenstein, Alex R.

    (University of Miami)

  • Huang, Wenqian

    (Bank for International Settlements)

  • Huang, Da

    (University of Utah)

  • Hurlin, Christophe

    (University of Orléans)

  • Ilczuk, Konrad
  • Ivashchenko, Alexey

    (Vrije Universiteit Amsterdam)

  • Iyer, Subramanian R.

    (University of New Mexico)

  • Jahanshahloo, Hossein

    (Cardiff University)

  • Jalkh, Naji P.

    (Saint Joseph University)

  • Jones, Charles M.

    (Columbia Business School)

  • Jurkatis, Simon

    (Bank of England)

  • Jylhä, Petri

    (Aalto University)

  • Kaeck, Andreas T.

    (University of Sussex)

  • Kaiser, Gabriel

    (University of Luxembourg)

  • Karam, Arzé

    (Durham University)

  • Karmaziene, Egle

    (Vrije Universiteit Amsterdam)

  • Kassner, Bernhard

    (University of Munich (LMU))

  • Kaustia, Markku

    (Aalto University)

  • Kazak, Ekaterina

    (University of Manchester)

  • Kearney, Fearghal

    (Queen's University Belfast)

  • Kervel, Vincent van

    (Pontificial University of Chile)

  • Khan, Saad A.

    (HEC Montréal)

  • Khomyn, Marta K.

    (University of Technology Sydney)

  • Klein, Tony

    (Queen's University Belfast)

  • Klein, Olga

    (University of Warwick)

  • Klos, Alexander

    (Kiel University)

  • Koetter, Michael

    (Halle Institute for Economic Research)

  • Kolokolov, Aleksey

    (University of Manchester)

  • Korajczyk, Robert A.

    (Northwestern University)

  • Kozhan, Roman

    (University of Warwick)

  • Krahnen, Jan P.

    (Goethe University Frankfurt)

  • Kuhle, Paul

    (Universidad Autónoma de Madrid)

  • Kwan, Amy

    (University of Sydney)

  • Lajaunie, Quentin

    (Paris Dauphine University)

  • Lam, F. Y. Eric C.

    (Hong Kong Institute for Monetary and Financial Research)

  • Lambert, Marie

    (HEC Liège - University of Liège)

  • Langlois, Hugues

    (HEC Paris)

  • Lausen, Jens

    (Goethe University Frankfurt)

  • Lauter, Tobias

    (Leibniz University Hannover)

  • Leippold, Markus

    (University of Zurich)

  • Levin, Vladimir

    (University of Luxembourg)

  • Li, Yijie

    (SandP Global Ratings)

  • Li, Hui

    (La Trobe University)

  • Liew, Chee Yoong

    (UCSI University)

  • Lindner, Thomas

    (WU Vienna University of Economics and Business)

  • Linton, Oliver

    (University of Cambridge)

  • Liu, Jiacheng

    (Purdue University)

  • Liu, Anqi

    (University of Sydney)

  • Llorente, Guillermo

    (Universidad Autónoma de Madrid)

  • Lof, Matthijs

    (Aalto University)

  • Lohr, Ariel

    (Arizona State University)

  • Longstaff, Francis

    (UCLA)

  • Lopez-Lira, Alejandro

    (University of Florida)

  • Mankad, Shawn

    (Cornell University)

  • Mano, Nicola

    (SFI at USI Lugano)

  • Marchal, Alexis

    (EPFL)

  • Martineau, Charles

    (University of Toronto)

  • Mazzola, Francesco

    (Erasmus University Rotterdam)

  • Meloso, Debrah

    (TBS Education)

  • Mi, Michael G.

    (University of Sydney)

  • Mihet, Roxana

    (SFI at HEC Lausanne)

  • Mohan, Vijay

    (RMIT University)

  • Moinas, Sophie

    (Toulouse 1 Capitole University)

  • Moore, David

    (Loyola Marymount University)

  • Mu, Liangyi

    (The University of Manchester)

  • Muravyev, Dmitriy

    (Michigan State University)

  • Murphy, Dermot

    (University of Illinois at Chicago)

  • Neszveda, Gabor

    (John von Neumann University)

  • Neumeier, Christian

    (Justus-Liebig University)

  • Nielsson, Ulf

    (Copenhagen Business School)

  • Nimalendran, Mahendrarajah

    (University of Florida)

  • Nolte, Sven

    (Radboud University)

  • Norden, Lars L.

    (Stockholm University)

  • O'Neill, Peter W.

    (Financial Conduct Authority)

  • Obaid, Khaled

    (California State University - East Bay)

  • Ødegaard, Bernt A.

    (University of Stavanger)

  • Östberg, Per

    (University of Zurich)

  • Pagnotta, Emiliano

    (Singapore Management University)

  • Painter, Marcus

    (Saint Louis University)

  • Palan, Stefan

    (University of Graz)

  • Palit, Imon J.

    (RMIT University)

  • Park, Andreas

    (University of Toronto Mississauga)

  • Pascual, Roberto

    (University of the Balearic Islands)

  • Pasquariello, Paolo

    (University of Michigan)

  • Pastor, Lubos

    (University of Chicago Booth School of Business)

  • Patel, Vinay

    (University of Technology Sydney)

  • Patton, Andrew J.

    (Duke University)

  • Pearson, Neil D.

    (University of Illinois at Urbana-Champaign)

  • Pelizzon, Loriana

    (Goethe University Frankfurt)

  • Pelli, Michele

    (SFI at University of Zurich)

  • Pelster, Matthias

    (Paderborn University)

  • Pérignon, Christophe

    (HEC Paris)

  • Pfiffer, Cameron

    (University of Oregon)

  • Philip, Richard

    (University of Sydney)

  • Plíhal, Tomáš

    (Masaryk University)

  • Prakash, Puneet

    (Missouri State University)

  • Press, Oliver-Alexander

    (Copenhagen Business School)

  • Prodromou, Tina

    (University of Wollongong)

  • Prokopczuk, Marcel

    (Leibniz University Hannover)

  • Putnins, Talis

    (University of Technology Sydney)

  • Qian, Ya
  • Raizada, Gaurav

    (IIM Ahmedabad)

  • Rakowski, David

    (University of Texas at Arlington)

  • Ranaldo, Angelo

    (University of St. Gallen)

  • Regis, Luca

    (University of Torino)

  • Reitz, Stefan

    (Kiel university)

  • Renault, Thomas

    (Université Paris 1 Panthéon-Sorbonne)

  • Renjie, Rex W.

    (Vrije Universiteit Amsterdam)

  • Reno, Roberto

    (University of Verona)

  • Riddiough, Steven J.

    (University of Toronto)

  • Rinne, Kalle

    (University of Luxembourg)

  • Rintamäki, Paul J.

    (Aalto University)

  • Riordan, Ryan

    (Queen's University)

  • Rittmannsberger, Thomas

    (University of Innsbruck)

  • Rodríguez Longarela, Iñaki

    (Stockholm University)

  • Roesch, Dominik

    (State University of New York at Buffalo)

  • Rognone, Lavinia

    (University of Manchester)

  • Roseman, Brian

    (Oklahoma State University)

  • Rosu, Ioanid

    (HEC Paris)

  • Roy, Saurabh

    (University of Massachusetts, Amherst)

  • Rudolf, Nicolas

    (University of Lausanne)

  • Rush, Stephen R.

    (Bowling Green State University)

  • Rzayev, Khaladdin

    (University of Edinburgh)

  • Rzeźnik, Aleksandra A.

    (York University)

  • Sanford, Anthony

    (University of Maryland)

  • Sankaran, Harikumar

    (New Mexico state University)

  • Sarkar, Asani

    (Federal Reserve Bank of New York)

  • Sarno, Lucio

    (University of Cambridge)

  • Scaillet, Olivier

    (SFI at University of Geneva)

  • Scharnowski, Stefan

    (University of Mannheim)

  • Schenk-Hoppé, Klaus R.

    (University of Manchester)

  • Schertler, Andrea

    (University of Graz)

  • Schneider, Michael

    (Deutsche Bundesbank)

  • Schroeder, Florian

    (Macquarie University)

  • Schürhoff, Norman

    (SFI at University of Lausanne)

  • Schuster, Philipp

    (University of Stuttgart)

  • Schwarz, Marco A.

    (Düsseldorf Institute for Competition Economics)

  • Seasholes, Mark S.

    (Arizona State University)

  • Seeger, Norman J.

    (Vrije Universiteit Amsterdam)

  • Shachar, Or

    (Federal Reserve Bank of New York)

  • Shkilko, Andriy

    (Wilfrid Laurier University)

  • Shui, Jessica

    (Federal Housing Finance Agency)

  • Sikic, Mario

    (University of Zurich)

  • Simion, Giorgia

    (WU Vienna University of Economics and Business)

  • Smales, Lee A.

    (University of Western Australia)

  • Söderlind, Paul

    (University of St. Gallen)

  • Sojli, Elvira

    (University of New South Wales)

  • Sokolov, Konstantin

    (University of Memphis)

  • Sönksen, Jantje

    (University of Tübingen)

  • Spokeviciute, Laima

    (Cardiff University)

  • Stefanova, Denitsa

    (University of Luxembourg)

  • Subrahmanyam, Marti G.

    (NYU Stern)

  • Szaszi, Barnabas

    (ELTE, Eotvos Lorand University)

  • Talavera, Oleksandr

    (University of Birmingham)

  • Tang, Yuehua

    (University of Florida)

  • Taylor, Nick

    (University of Bristol)

  • Tham, Wing Wah

    (University of New South Wales)

  • Theissen, Erik

    (University of Mannheim)

  • Thimme, Julian

    (Karlsruhe Institute of Technology)

  • Tonks, Ian

    (University of Bristol)

  • Tran, Hai

    (Loyola Marymount University)

  • Trapin, Luca

    (University of Bologna)

  • Trolle, Anders B.

    (Copenhagen Business School)

  • Vaduva, M. Andreea

    (Universidad Carlos III de Madrid)

  • Valente, Giorgio

    (Hong Kong Monetary Authority)

  • Van Ness, Robert A.

    (University of Mississippi)

  • Vasquez, Aurelio

    (ITAM)

  • Verousis, Thanos

    (University of Essex)

  • Verwijmeren, Patrick

    (Erasmus University Rotterdam)

  • Vilhelmsson, Anders

    (Department of Economics, Lund University)

  • Vilkov, Grigory

    (Frankfurt School of Finance and Management)

  • Vladimirov, Vladimir

    (University of Amsterdam)

  • Vogel, Sebastian

    (Erasmus University Rotterdam)

  • Voigt, Stefan

    (University of København)

  • Wagner, Wolf

    (Erasmus University Rotterdam)

  • Walther, Thomas

    (Utrecht University)

  • Weiss, Patrick

    (Vienna Graduate School of Finance)

  • Wel, Michel van der

    (Erasmus University Rotterdam)

  • Werner, Ingrid M.

    (The Ohio State University)

  • Westerholm, Joakim

    (University of Sydney)

  • Westheide, Christian

    (University of Vienna)

  • Wika, Hans C.

    (Norges Bank)

  • Wipplinger, Evert

    (Vrije Universiteit Amsterdam)

  • Wolf, Michael

    (University of Zurich)

  • Wolff, Christian C. P.

    (University of Luxembourg)

  • Wolk, Leonard

    (Vrije Universiteit Amsterdam)

  • Wong, Wing-Keung

    (Asia University)

  • Wrampelmeyer, Jan

    (Vrije Universiteit Amsterdam)

  • Wu, Zhen-Xing

    (Zhongnan University of Economics and Law)

  • Xia, Shuo

    (Halle Institute for Economic Research)

  • Xiu, Dacheng

    (University of Chicago Booth School of Business)

  • Xu, Ke

    (University of Victoria)

  • Xu, Caihong

    (Stockholm University)

  • Yadav, Pradeep K.

    (University of Oklahoma)

  • Yagüe, José

    (University of Murcia)

  • Yan, Cheng

    (University of Essex)

  • Yang, Antti

    (Erasmus University Rotterdam)

  • Yoo, Woongsun

    (Central Michigan University)

  • Yu, Wenjia

    (Aalto University)

  • Yu, Yihe

    (University at Buffalo)

  • Yu, Shihao

    (Vrije Universiteit Amsterdam)

  • Yueshen, Bart Z.

    (INSEAD)

  • Yuferova, Darya

    (Norwegian School of Economics (NHH))

  • Zamojski, Marcin

    (University of Gothenburg)

  • Zareei, Abalfazl

    (Stockholm University)

  • Zeisberger, Stefan M.

    (Radboud University)

  • Zhang, Lu

    (University of Luxembourg)

  • Zhang, S. Sarah

    (University of Manchester)

  • Zhang, Xiaoyu

    (Vrije Universiteit Amsterdam)

  • Zhao, Lu

    (Southwestern University of Finance and Economics)

  • Zhong, Zhuo

    (University of Melbourne)

  • Zhou, Zeyang (Ivy)

    (University of Wollongong)

  • Zhou, Chen

    (Erasmus University Rotterdam)

  • Zhu, Xingyu S.

    (Stockholm School of Economics)

  • Zoican, Marius

    (University of Toronto Mississauga)

  • Zwinkels, Remco

    (Vrije Universiteit Amsterdam)

Abstract

In statistics, samples are drawn from a population in a data generating process (DGP). Standard errors measure the uncertainty in sample estimates of population parameters. In science, evidence is generated to test hypotheses in an evidence generating process (EGP). We claim that EGP variation across researchers adds uncertainty: non-standard errors. To study them, we let 164 teams test six hypotheses on the same sample. We find that non-standard errors are sizeable, on par with standard errors. Their size (i) co-varies only weakly with team merits, reproducibility, or peer rating, (ii) declines significantly after peer-feedback, and (iii) is underestimated by participants.

Suggested Citation

  • Menkveld, Albert J. & Dreber, Anna & Holzmeister, Felix & Huber, Juergen & Johannesson, Magnus & Kirchler, Michael & Neusüss, Sebastian & Razen, Michael & Weitzel, Utz & Abad-Díaz, David & Abudy, Mena, 2021. "Non-Standard Errors," Working Papers 2021:17, Lund University, Department of Economics.
    • Handle: RePEc:hhs:lunewp:2021_017
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    References listed on IDEAS

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    Cited by:

    1. Fišar, Miloš & Greiner, Ben & Huber, Christoph & Katok, Elena & Ozkes, Ali & Collaboration, Management Science Reproducibility, 2023. "Reproducibility in Management Science," OSF Preprints mydzv, Center for Open Science.
    2. Müller, Isabella & Noth, Felix & Tonzer, Lena, 2022. "A note on the use of syndicated loan data," IWH Discussion Papers 17/2022, Halle Institute for Economic Research (IWH).
    3. Christoph Huber & Christian König-Kersting, 2022. "Experimenting with Financial Professionals," Working Papers 2022-07, Faculty of Economics and Statistics, Universität Innsbruck.

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    Keywords

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    JEL classification:

    • B26 - Schools of Economic Thought and Methodology - - History of Economic Thought since 1925 - - - Financial Economics

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