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Nonstandard Errors

Menkveld, Albert J. (author)
Vrije Universiteit Amsterdam
Dreber Almenberg, Anna (author)
Stockholm School of Economics,Handelshögskolan i Stockholm
Neusüess, Sebastian (author)
Optiver Amsterdam
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Razen, Michael (author)
University of Innsbruck
Holzmeister, Felix (author)
University of Innsbruck
Huber, Jürgen (author)
University of Innsbruck
Johannesson, Magnus (author)
Stockholm School of Economics,Handelshögskolan i Stockholm
Kirchler, Michael (author)
University of Innsbruck
Weitzel, Utz (author)
Vrije Universiteit Amsterdam
Zhu, Xingyu (author)
Stockholm School of Economics,Handelshögskolan i Stockholm
Zwinkels, Remco (author)
Vrije Universiteit Amsterdam
Longarela, Iñaki R. (author)
Stockholms universitet,Företagsekonomiska institutionen,UiT - The Arctic University of Norway
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 (creator_code:org_t)
Wiley-Blackwell, 2024
2024
English.
In: Journal of Finance. - : Wiley-Blackwell. - 1540-6261 .- 0022-1082. ; 79:3, s. 2339-2390
  • Journal article (peer-reviewed)
Abstract Subject headings
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  • In statistics, samples are drawn from a population in a data-generating process (DGP). Standard errors measure the uncertainty in 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—nonstandard errors (NSEs). We study NSEs by letting 164 teams test the same hypotheses on the same data. NSEs turn out to be sizable, but smaller for more reproducible or higher rated research. Adding peer-review stages reduces NSEs. We further find that this type of uncertainty is underestimated by participants.

Subject headings

NATURVETENSKAP  -- Matematik -- Sannolikhetsteori och statistik (hsv//swe)
NATURAL SCIENCES  -- Mathematics -- Probability Theory and Statistics (hsv//eng)
SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)
SOCIAL SCIENCES  -- Economics and Business -- Business Administration (hsv//eng)

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