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Nonstandard Errors

Menkveld, Albert J. and Aloosh, Arash et al. (2024) Nonstandard Errors. The Journal Of Finance, 79 (3). pp. 1715-2393. ISSN 0022-1082

Abstract
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.
Metadata
Item Type:Article (Published)
Refereed:Yes
Subjects:Business > Finance
Business > Innovation
Business > Industries
DCU Faculties and Centres:DCU Faculties and Schools > DCU Business School
Publisher:Wiley
Official URL:https://onlinelibrary.wiley.com/doi/full/10.1111/j...
Copyright Information:Authors
ID Code:32896
Deposited On:03 Jul 2026 13:18 by Tam Nguyen . Last Modified 03 Jul 2026 13:18
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