Nonstandard Errors

AJ Menkveld, A Dreber, F Holzmeister, J Huber, M Johannesson, M Kirchler, S Neusüss, M Razen, U Weitzel, D Abad-Díiaz, M Abudy, T Adrian, Y Ait-Sahalia, O Akmansoy, JT Alcock, V Alexeev, A Aloosh, L Amato, D Amaya, JJ AngelAT Avetikian, A Bach, E Baidoo, G Bakalli, L Bao, A Barbon, O Bashchenko, PC Bindra, GH Bjonnes, JR Black, BS Black, D Bogoev, O Bondarenko, CS Bos, C Bosch-Rosa, E Bouri, C Brownlees, A Calamia, VN Cao, G Capelle-Blancard, M Caporin, A Carrion, T Caskurlu, B Chakrabarty, J Chen, M Chernov, W Cheung, LB Chincarini, T Chordia, SC Chow, B Clapham, JE Colliard, C Comerton-Forde, E Curran, T Dao, W Dare, RJ Davies, R De Blasis, GF De Nard, F Declerck, O Deev, H Degryse, SY Deku, C Desagre, MA Van Dijk, C Dim, T Dimpfl, YJ Dong, PA Drummond, T Dudda, T Duevski, A Dumitrescu, T Dyakov, AH Dyhrberg, M Dzielinski, A Eksi, I El Kalak, S Ter Ellen, N Eugster, MDD Evans, M Farrell, E Felez-Vinas, G Ferrara, E Ferrouhi, A Flori, JT Fluharty-Jaidee, SDV Foley, KYL Fong, T Foucault, T Franus, F Franzoni, B Frijns, M Frömmel, SM Fu, SC Füllbrunn, BQ Gan, G Gao, TP Gehrig, R Gemayel, D Gerritsen, J Gil-Bazo, D Gilder, LR Glosten, T Gomez, A Gorbenko, J Grammig, V Grégoire, U Güçbilmez, B Hagströmer, J Hambuckers, E Hapnes, JH Harris, L Harris, S Hartmann, JB Hasse, N Hautsch, XZ He, D Heath, S Hediger, T Hendershott, AM Hibbert, E Hjalmarsson, SA Hoelscher, P Hoffmann, CW Holden, AR Horenstein, WQ Huang, D Huang, C Hurlin, A Ivashchenko, SR Iyer, H Jahanshahloo, N Jalkh, CM Jones, S Jurkatis, P Jylhä, AT Kaeck, G Kaiser, A Karam, E Karmaziene, B Kassner, M Kaustia, E Kazak, F Kearney, V Van Kervel, SA Khan, MK Khomyn, T Klein, O Klein, A Klos, M Koetter, A Kolokolov, RA Korajczyk, R Kozhan, JP Krahnen, P Kuhle, A Kwan, Q Lajaunie, FYEC Lam, M Lambert, H Langlois, J Lausen, T Lauter, M Leippold, V Levin, YJ Li, H Li, CY Liew, T Lindner, O Linton, JC Liu, AQ Liu, G Llorente, M Lof, A Lohr, F Longstaff, A Lopez-Lira, S Mankad, N Mano, A Marchal, C Martineau, F Mazzola, D Meloso, R Mihet, V Mohan, S Moinas, D Moore, LY Mu, D Muravyev, D Murphy, G Neszveda, C Neumeier, U Nielsson, M Nimalendran, S Nolte, LL Norden, P O'Neill, K Obaid, BA Odegaard, P Östberg, E Pagnotta, M Painter, S Palan, IJ Palit, A Park, R Pascual, P Pasquariello, L Pastor, V Patel, AJ Patton, ND Pearson, L Pelizzon, M Pelli, M Pelster, C Pérignon, C Pfiffer, R Philip, T Plíhal, P Prakash, OA Press, T Prodromou, M Prokopczuk, T Putnins, Y Qian, G Raizada, D Rakowski, A Ranaldo, L Regis, S Reitz, T Renault, RW Renjie, R Reno, SJ Riddiough, K Rinne, P Rintamäki, R Riordan, T Rittmannsberger, IR Longarela, D Roesch, L Rognone, B Roseman, I Rosu, S Roy, N Rudolf, SR Rush, K Rzayev, AA Rzeznik, A Sanford, H Sankaran, A Sarkar, L Sarno, O Scaillet, S Scharnowski, KR Schenk-Hoppé, A Schertler, M Schneider, F Schroeder, N Schürhoff, P Schuster, MA Schwarz, MS Seasholes, NJ Seeger, O Shachar, A Shkilko, J Shui, M Sikic, G Simion, LA Smales, P Söderlind, E Sojli, K Sokolov, J Sönksen, L Spokeviciute, D Stefanova, MG Subrahmanyam, B Szaszi, O Talavera, YH Tang, N Taylor, WW Tham, E Theissen, J Thimme, I Tonks, H Tran, L Trapin, AB Trolle, MA Vaduva, G Valente, RA Van Ness, A Vasquez, T Verousis, P Verwijmeren, A Vilhelmsson, G Vilkov, V Vladimirov, S Vogel, S Voigt, W Wagner, T Walther, P Weiss, M Van der Wel, IM Werner, PJ Westerholm, C Westheide, HC Wika, E Wipplinger, M Wolf, CCP Wolff, L Wolk, WK Wong, J Wrampelmeyer, ZX Wu, S Xia, DC Xiu, K Xu, CH Xu, PK Yadav, J Yagüe, C Yan, A Yang, W Yoo, WJ Yu, SH Yu, BZ Yueshen, D Yuferova, M Zamojski, A Zareei, SM Zeisberger, L Zhang, SS Zhang, XY Zhang, L Zhao, Z Zhong, ZI Zhou, C Zhou, XS Zhu, M Zoican, R Zwinkels

Research output: Contribution to journalArticlepeer-review

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.
Original languageEnglish
Pages (from-to)2339-2390
Number of pages52
JournalJournal of Finance
Volume79
Issue number3
Early online date17 Apr 2024
DOIs
Publication statusPublished - Jun 2024

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