Edward Conard

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Edward Conard

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Two More Studies Find Shocking Inability to Replicate Economic Research

The Economist reports on two more studies that find a shocking inability to replicate economic research:

A recent examination in the Economic Journal, of almost 7,000 empirical economics studies, found that in half of the areas of research, nearly 90% of those studies were underpowered, i.e., that they used samples too small to judge whether a particular effect was really there. Of the studies that avoided this pitfall, 80% were found to have exaggerated the reported results. Another study, published in Science, which attempted to replicate 18 economics experiments, failed for seven of them.

I have previously reported on this widespread problem in economics and other hard and soft sciences.

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