La Trobe
- No file added yet -

Nonstandard Errors

Download (1.16 MB)
journal contribution
posted on 2024-09-17, 00:12 authored by Albert J Menkveld, Anna Dreber, Felix Holzmeister, Juergen Huber, Magnus Johannesson, Michael Kirchler, Sebastian Neususs, Michael Razen, Utz Weitzel, David Abad-Diaz, Menachem Meni Abudy, Tobias Adrian, Yacine Ait-Sahalia, Olivier Akmansoy, Jamie T Alcock, Vitali Alexeev, Arash Aloosh, Livia Amato, Diego Amaya, James J Angel, Alejandro T Avetikian, Amadeus Bach, Edwin Baidoo, Gaetan Bakalli, Li Bao, Andrea Barbon, Oksana Bashchenko, Parampreet C Bindra, Geir H Bjonnes, Jeffrey R Black, Bernard S Black, Dimitar Bogoev, Santiago Bohorquez Correa, Oleg Bondarenko, Charles S Bos, Ciril Bosch-Rosa, Elie Bouri, Christian Brownlees, Anna Calamia, Nga Cao Viet, Gunther Capelle-Blancard, Laura M Capera Romero, Massimiliano Caporin, Allen Carrion, Tolga Caskurlu, Bidisha Chakrabarty, Jian Chen, Mikhail Chernov, William Cheung, Ludwig B Chincarini, Tarun Chordia, Sheung-Chi Chow, Benjamin Clapham, Jean-Edouard Colliard, Carole Comerton-Forde, Edward Curran, Dao Thong, Wale Dare, Ryan J Davies, Riccardo De Blasis, Gianluca F De Nard, Fany Declerck, Oleg Deev, Hans Degryse, Solomon Y Deku, Christophe Desagre, Mathijs A Van Dijk, Chukwuma Dim, Thomas Dimpfl, Yun Jiang Dong, Philip A Drummond, Tom Dudda, Teodor Duevski, Ariadna Dumitrescu, Teodor Dyakov, Anne Haubo Dyhrberg, Michal Dzielinski, Asli Eksi, Izidin El Kalak, Saskia ter Ellen, Nicolas Eugster, Martin DD Evans, Michael Farrell, Ester Felez-Vinas, Gerardo Ferrara, El Mehdi Ferrouhi, Andrea Flori, Jonathan T Fluharty-Jaidee, Sean DV Foley, Kingsley YL Fong, Thierry Foucault, Tatiana Franus, Francesco Franzoni, Bart Frijns, Michael Frommel, Servanna M Fu, Sascha C Fullbrunn, Baoqing Gan, Ge Gao, Thomas P Gehrig, Roland Gemayel, Dirk Gerritsen, Javier Gil-Bazo, Dudley Gilder, Lawrence R Glosten, Thomas Gomez, Arseny Gorbenko, Joachim Grammig, Vincent Gregoire, Ufuk Gucbilmez, Bjorn Hagstromer, Julien Hambuckers, Erik Hapnes, Jeffrey H Harris, Lawrence Harris, Simon Hartmann, Jean-Baptiste Hasse, Nikolaus Hautsch, Xue-Zhong Tony He, Davidson Heath, Simon Hediger, Terrence Hendershott, Ann Marie Hibbert, Erik Hjalmarsson, Seth A Hoelscher, Peter Hoffmann, Craig W Holden, Alex R Horenstein, Wenqian Huang, Da Huang, Christophe Hurlin, Konrad Ilczuk, Alexey Ivashchenko, Subramanian R Iyer, Hossein Jahanshahloo, Naji Jalkh, Charles M Jones, Simon Jurkatis, Petri Jylha, Andreas T Kaeck, Gabriel Kaiser, Arze Karam, Egle Karmaziene, Bernhard Kassner, Markku Kaustia, Ekaterina Kazak, Fearghal Kearney, Vincent Van Kervel, Saad A Khan, Marta K Khomyn, Tony Klein, Olga Klein, Alexander Klos, Michael Koetter, Aleksey Kolokolov, Robert A Korajczyk, Roman Kozhan, Jan P Krahnen, Paul Kuhle, Amy Kwan, Quentin Lajaunie, FY Eric C Lam, Marie Lambert, Hugues Langlois, Jens Lausen, Tobias Lauter, Markus Leippold, Vladimir Levin, Yijie Li, Hui LiHui Li, Chee Yoong Liew, Thomas Lindner, Oliver Linton, Jiacheng Liu, Anqi Liu, Guillermo Llorente, Matthijs Lof, Ariel Lohr, Francis Longstaff, Alejandro Lopez-Lira, Shawn Mankad, Nicola Mano, Alexis Marchal, Charles Martineau, Francesco Mazzola, Debrah Meloso, Michael G Mi, Roxana Mihet, Vijay Mohan, Sophie Moinas, David Moore, Liangyi Mu, Dmitriy Muravyev, Dermot Murphy, Gabor Neszveda, Christian Neumeier, Ulf Nielsson, Mahendrarajah Nimalendran, Sven Nolte, Lars L Norden, Peter O'Neill, Khaled Obaid, Bernt A Odegaard, Per Ostberg, Emiliano Pagnotta, Marcus Painter, Stefan Palan, Imon J Palit, Andreas Park, Roberto Pascual, Paolo Pasquariello, Lubos Pastor, Vinay Patel, Andrew J Patton, Neil D Pearson, Loriana Pelizzon, Michele Pelli, Matthias Pelster, Christophe Perignon, Cameron Pfiffer, Richard Philip, Tomas Plihal, Puneet Prakash, Oliver-Alexander Press, Tina Prodromou, Marcel Prokopczuk, Talis Putnins, Ya Qian, Gaurav Raizada, David Rakowski, Angelo Ranaldo, Luca Regis, Stefan Reitz, Thomas Renault, Rex W Renjie, Roberto Reno, Steven J Riddiough, Kalle Rinne, Paul Rintamaki, Ryan Riordan, Thomas Rittmannsberger, Inaki Rodriguez Longarela, Dominik Roesch, Lavinia Rognone, Brian Roseman, Ioanid Rosu, Saurabh Roy, Nicolas Rudolf, Stephen R Rush, Khaladdin Rzayev, Aleksandra A Rzeznik, Anthony Sanford, Harikumar Sankaran, Asani Sarkar, Lucio Sarno, Olivier Scaillet, Stefan Scharnowski, Klaus R Schenk-Hoppe, Andrea Schertler, Michael Schneider, Florian Schroeder, Norman Schuerhoff, Philipp Schuster, Marco A Schwarz, Mark S Seasholes, Norman J Seeger, Or Shachar, Andriy Shkilko, Jessica Shui, Mario Sikic, Giorgia Simion, Lee A Smales, Paul Soderlind, Elvira Sojli, Konstantin Sokolov, Jantje Sonksen, Laima Spokeviciute, Denitsa Stefanova, Marti G Subrahmanyam, Barnabas Szaszi, Oleksandr Talavera, Yuehua Tang, Nick Taylor, Wing Wah Tham, Erik Theissen, Julian Thimme, Ian Tonks, Hai Tran, Luca Trapin, Anders B Trolle, M Andreea Vaduva, Giorgio Valente, Robert A Van Ness, Aurelio Vasquez, Thanos Verousis, Patrick Verwijmeren, Anders Vilhelmsson, Grigory Vilkov, Vladimir Vladimirov, Sebastian Vogel, Stefan Voigt, Wolf Wagner, Thomas Walther, Patrick Weiss, Michel Van der Wel, Ingrid M Werner, P Joakim Westerholm, Christian Westheide, Hans C Wika, Evert Wipplinger, Michael Wolf, Christian CP Wolff, Leonard Wolk, Wing-Keung Wong, Jan Wrampelmeyer, Zhen-Xing Wu, Shuo Xia, Dacheng Xiu, Ke Xu, Caihong Xu, Pradeep K Yadav, Jose Yague, Cheng Yan, Antti Yang, Woongsun Yoo, Wenjia Yu, Yihe Yu, Shihao Yu, Bart Z Yueshen, Darya Yuferova, Marcin Zamojski, Abalfazl Zareei, Stefan M Zeisberger, Lu Zhang, S Sarah Zhang, Xiaoyu Zhang, Lu Zhao, Zhuo Zhong, Z Ivy Zhou, Chen Zhou, Xingyu S Zhu, Marius Zoican, Remco Zwinkels
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.

History

Publication Date

2024-06-01

Journal

The Journal of Finance

Volume

79

Issue

3

Pagination

2339 - 2390

Publisher

Wiley

ISSN

0022-1082

Rights Statement

© 2024 The Authors. The Journal of Finance published by Wiley Periodicals LLC on behalf of American Finance Association. This is an open access article under the terms of the Creative Commons Attribution License, which permits use, distribution and reproduction in any medium, provided the original work is properly cited.

Usage metrics

    Journal Articles

    Licence

    Exports

    RefWorks
    BibTeX
    Ref. manager
    Endnote
    DataCite
    NLM
    DC