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

  • Zacharias Maniadis
  • Fabio Tufano
  • John A. List

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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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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  1. J. Bradford De Long & Kevin Lang, . "Are All Economic Hypotheses False?," J. Bradford De Long's Working Papers _117, University of California at Berkeley, Economics Department.
  2. 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, vol. 11(1), pages 4-10, January.
  3. Christoph Engel, 2010. "Dictator Games: A Meta Study," Working Paper Series of the Max Planck Institute for Research on Collective Goods 2010_07, Max Planck Institute for Research on Collective Goods, revised Jan 2011.
  4. Oswald, Andrew J., 2006. "An Examination of the Reliability of Prestigious Scholarly Journals: Evidence and Implications for Decision-makers," The Warwick Economics Research Paper Series (TWERPS) 744, University of Warwick, Department of Economics.
  5. John Ioannidis & Chris Doucouliagos, 2013. "What'S To Know About The Credibility Of Empirical Economics?," Journal of Economic Surveys, Wiley Blackwell, vol. 27(5), pages 997-1004, December.
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