Posted by: Tobias | February 24, 2009

Replication in economics

Felix Salmon has the latest on the woefully inadequate replicability of most economic studies:

The important point is the bigger one: scientists are being far too selfish with their data, and most empirical papers aren’t replicable in any kind of realistic sense. This is a big problem, especially given that the peer-review process generally makes no attempt to check on the quality of data or the computations that are done with it.

Or, as Daniel Hamermesh once put it: “Economists treat replication the way teenagers treat chastity—as an ideal to be professed but not to be practiced.”

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Responses

  1. Nice quote, though I would doubt that many of today’s teenagers would in fact see chastity as an ideal… 🙂

  2. The man is American after all…


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