Is There a Cult of Statistical Significance in Agricultural Economics?

Abstract

McCloskey and Ziliak analyzed two decades of econometric practice in the American Economic Review (AER). We review the arguments and develop a questionnaire, applying it to three Agricultural Economics journals and the AER. Statistical practice improved over time, but a greater focus on economic significance is still needed. Considering the power of tests and discussing the economic consequences of type I and type II error were rarely practiced. The AER and the American Journal of Agricultural Economics did not substantially differ in their performance. We discuss examples of statistical practice and conclude with implications for the publication process and teaching.

Keywords

Econometrics; Economic significance; Methodology; P-hacking; Statistics

Published in

Applied Economic Perspectives and Policy
2020, volume: 43, number: 3, pages: 1176-1191

SLU Authors

• Rommel, Jens

  • Department of Economics, Swedish University of Agricultural Sciences
    

UKÄ Subject classification

Economics
Economic History

Publication identifier

• DOI: https://doi.org/10.1002/aepp.13050

Permanent link to this page (URI)

https://res.slu.se/id/publ/105089