Is There a Cult of Statistical Significance in Agricultural Economics?. Issue 3 (3rd April 2020)

• Record Type: Journal Article
• Authors: Rommel, Jens; Weltin, Meike
• Is Part Of: Applied economic perspectives and policy. Volume 43:Issue 3(2021)
• Page Start: 1176
• Page End: 1191
• Publication Date: 2020-04-03
• Subjects: Econometrics -- Economic significance -- Methodology -- P‐hacking -- Statistics; Agriculture -- Economic aspects -- Periodicals; Agriculture and state -- Periodicals; 338.105
• DOI: 10.1002/aepp.13050
• Languages: English
• ISSNs: 2040-5790

Abstract

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.