Year: 2014
Type: article
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.
Authors: Zacharias Maniadis, Fabio Tufano, John A. List
Language: English
Subfield: Statistics and Probability
Field: Mathematics
Domain: Physical Sciences
Open Access status: green
OpenAlex ID: W657907236