SAFE working paper
https://safe-frankfurt.de/de/publikationen/working-papers.html
Refine
Year of publication
Document Type
- Working Paper (427)
Language
- English (427)
Has Fulltext
- yes (427)
Is part of the Bibliography
- no (427)
Keywords
- Liquidity (9)
- COVID-19 (8)
- General Equilibrium (7)
- welfare (7)
- Asset Pricing (6)
- ambiguity (6)
- climate change (6)
- competition (6)
- liquidity (6)
- Contagion (5)
Institute
- Wirtschaftswissenschaften (426)
- Center for Financial Studies (CFS) (407)
- House of Finance (HoF) (406)
- Sustainable Architecture for Finance in Europe (SAFE) (395)
- Rechtswissenschaft (8)
- Institute for Law and Finance (ILF) (7)
- Foundation of Law and Finance (6)
- Frankfurt MathFinance Institute (FMFI) (3)
- E-Finance Lab e.V. (1)
- Exzellenzcluster Die Herausbildung normativer Ordnungen (1)
327
Non-standard errors
(2021)
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.