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

Zacharias Maniadis, Fabio Tufano and John List

Econ Journal Watch, 2014, vol. 11, issue 1, 11-16

Abstract: 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.

Keywords: Economic methodology; statistical inference (search for similar items in EconPapers)
JEL-codes: B40 C10 C80 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (22)

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Persistent link: https://EconPapers.repec.org/RePEc:ejw:journl:v:11:y:2014:i:1:p:11-16

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