Non-Standard Errors

Albert Menkveld, Anna Dreber, Felix Holzmeister, Juergen Huber, Magnus Johannesson, Michael Kirchler, Sebastian Neusüss, Michael Razen, Utz Weitzel, David Abad-Díaz, Menachem Abudy, Tobias Adrian, Yacine Ait-Sahalia, Olivier Akmansoy, Jamie T. Alcock, Vitali Alexeev, Arash Aloosh, Livia Amato, Diego Amaya, James J. Angel, Alejandro T. Avetikian, Amadeus Bach, Edwin Baidoo, Gaetan Bakalli, Li Bao, Andrea Barbon, Oksana Bashchenko, Parampreet C. Bindra, Geir H. Bjønnes, Jeffrey R. Black, Bernard S. Black, Dimitar Bogoev, Santiago Bohorquez Correa, Oleg Bondarenko, Charles Bos, Ciril Bosch-Rosa, Elie Bouri, Christian Brownlees, Anna Calamia, Viet Nga Cao, Gunther Capelle-Blancard, Laura M. Capera Romero, Massimiliano Caporin, Allen Carrion, Tolga Caskurlu, Bidisha Chakrabarty, Jian Chen, Mikhail Chernov, William Cheung, Ludwig B. 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Pearson, Loriana Pelizzon, Michele Pelli, Matthias Pelster, Christophe Pérignon, Cameron Pfiffer, Richard Philip, Tomáš Plíhal, Puneet Prakash, Oliver-Alexander Press, Tina Prodromou, Marcel Prokopczuk, Talis Putnins, Ya Qian, Gaurav Raizada, David Rakowski, Angelo Ranaldo, Luca Regis, Stefan Reitz, Thomas Renault, Rex W. Renjie, Roberto Reno, Steven J. Riddiough, Kalle Rinne, Paul J. Rintamäki, Ryan Riordan, Thomas Rittmannsberger, Iñaki Rodríguez Longarela, Dominik Roesch, Lavinia Rognone, Brian Roseman, Ioanid Rosu, Saurabh Roy, Nicolas Rudolf, Stephen R. Rush, Khaladdin Rzayev, Aleksandra A. Rzeźnik, Anthony Sanford, Harikumar Sankaran, Asani Sarkar, Lucio Sarno, Olivier Scaillet, Stefan Scharnowski, Klaus Schenk-Hoppé, Andrea Schertler, Michael Schneider, Florian Schroeder, Norman Schürhoff, Philipp Schuster, Marco Schwarz, Mark S. Seasholes, Norman J. 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Yueshen, Darya Yuferova, Marcin Zamojski, Abalfazl Zareei, Stefan M. Zeisberger, Lu Zhang, S. Sarah Zhang, Xiaoyu Zhang, Lu Zhao, Zhuo Zhong, Zeyang (Ivy) Zhou, Chen Zhou, Xingyu S. Zhu, Marius Zoican and Remco Zwinkels
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Juergen Huber: University of Innsbruck
Michael Kirchler: University of Innsbruck
Michael Razen: University of Innsbruck
Utz Weitzel: Vrije Universiteit Amsterdam
David Abad-Díaz: University of Alicante
Menachem Abudy: Bar-Ilan University
Tobias Adrian: International Monetary Fund
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Chukwuma Dim: Frankfurt School of Finance and Management
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Teodor Duevski: HEC Paris
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Lawrence R. Glosten: Columbia University
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Lu Zhao: Southwestern University of Finance and Economics
Zhuo Zhong: University of Melbourne
Zeyang (Ivy) Zhou: University of Wollongong
Chen Zhou: Erasmus University Rotterdam
Xingyu S. Zhu: Stockholm School of Economics
Marius Zoican: University of Toronto Mississauga
Remco Zwinkels: Vrije Universiteit Amsterdam
Authors registered in the RePEc Author Service: Norman Schuerhoff and Anders Wilhelmsson

No 2021:17, Working Papers from Lund University, Department of Economics

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.

Keywords: Non-standard; errors (search for similar items in EconPapers)
JEL-codes: B26 (search for similar items in EconPapers)
Pages: 57 pages
Date: 2021-11-29
New Economics Papers: this item is included in nep-exp
References: View references in EconPapers View complete reference list from CitEc
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https://lucris.lub.lu.se/ws/portalfiles/portal/177122721/WP21_17 Full text (application/pdf)

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