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Twenty Steps Towards an Adequate Inferential Interpretation of p-Values in Econometrics

Norbert Hirschauer, Grüner Sven (sven.gruener@landw.uni-halle.de), Oliver Musshoff and Becker Claudia (claudia.becker@wiwi.uni-halle.de)
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Grüner Sven: Faculty of Natural Sciences III, Institute of Agricultural and Nutritional Sciences, Agribusiness Management, Martin Luther University Halle-Wittenberg, Karl-Freiherr-von-Fritsch-Str. 4, D-06120 Halle(Saale), Germany
Becker Claudia: Faculty of Law and Economics, Institute of Business Studies, Chair of Statistics, Martin Luther University Halle-Wittenberg, Große Steinstraße 73, D-06099 Halle(Saale), Germany

Authors registered in the RePEc Author Service: Sven Gruener

Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), 2019, vol. 239, issue 4, 703-721

Abstract: We suggest twenty immediately actionable steps to reduce widespread inferential errors related to “statistical significance testing.” Our propositions refer to the theoretical preconditions for using p-values. They furthermore include wording guidelines as well as structural and operative advice on how to present results, especially in research based on multiple regression analysis, the working horse of empirical economists. Our propositions aim at fostering the logical consistency of inferential arguments by avoiding false categorical reasoning. They are not aimed at dispensing with p-values or completely replacing frequentist approaches by Bayesian statistics.

Keywords: p-value; statistical inference; inverse probability error; multiple testing (search for similar items in EconPapers)
Date: 2019
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Citations: View citations in EconPapers (11)

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Persistent link: https://EconPapers.repec.org/RePEc:jns:jbstat:v:239:y:2019:i:4:p:703-721:n:8

DOI: 10.1515/jbnst-2018-0069

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