Non-Standard Errors

Francesco Franzoni, Roxana Mihet, Markus Leippold, Per Ostberg, Olivier Scaillet, Norman Schürhoff, Oksana Bashchenko, Nicola Mano and Michele Pelli
Additional contact information
Francesco Franzoni: Università della Svizzera italiana and Swiss Finance Institute
Markus Leippold: University of Zurich and Swiss Finance Institute
Per Ostberg: University of Zurich and Swiss Finance Institute
Norman Schürhoff: University of Lausanne and Swiss Finance Institute
Oksana Bashchenko: University of Lausanne and Swiss Finance Institute
Nicola Mano: Università della Svizzera italiana and Swiss Finance Institute
Michele Pelli: University of Zurich and Swiss Finance Institute
Authors registered in the RePEc Author Service: Norman Schuerhoff and Thomas P. Gehrig

No 22-09, Swiss Finance Institute Research Paper Series from Swiss Finance Institute

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; multi-analyst approach; liquidity (search for similar items in EconPapers)
JEL-codes: C12 C18 G1 G14 (search for similar items in EconPapers)
Pages: 56 pages
Date: 2022-01
New Economics Papers: this item is included in nep-exp
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Downloads: (external link)
https://papers.ssrn.com/sol3/papers.cfm?abstract_id=3961574 (application/pdf)

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Working Paper: Non-Standard Errors (2021)
Working Paper: Non-Standard Errors (2021)
Working Paper: Non-Standard Errors (2021)
Working Paper: Non-Standard Errors (2021)
Working Paper: Non-Standard Errors (2021)
Working Paper: Non-Standard Errors (2021)
Working Paper: Non-Standard Errors (2021)
Working Paper: Non-standard errors (2021)
Working Paper: Non-standard errors (2021)
Working Paper: Non-standard errors (2021)
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Persistent link: https://EconPapers.repec.org/RePEc:chf:rpseri:rp2209

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