I'm sorry to contradict the Harvard professor - ok not me directly - but an Oxford Professor, Ludovic Phalippou of Private Equity told me on a podcast that the headline figure for private equity is "useless" and "if you combine all of these fees, the average fund we are talking about in private equity gets a fee of about 700 basis points" (at 37min https://youtu.be/WKSWrjssSAM)
Entirely unrelated but interesting for some grumpy middle aged men perhaps, today via the Aporia substack: hope for the social sciences...
'Abel Brodeur and colleagues examine research reliability in economics and political science by attempting to replicate 110 papers in leading journals. They find that 85% are fully replicable. They also find that about 70% are robust to various re-analyses like introducing new data, though effect sizes for re-analyses tend to be smaller than the original ones.'
The original study (link in article) looks massive but that's the huge amount of material that comes with it. Abstract at page 7, conclusion at p 43. There's still a lot to do and i guess as academia sticks to rewarding production that won't be easily solved:
'Our results suffer from several limitations. To this date and despite some recent progress on the matter, only a small number of economics and political science journals request data and codes (Askarov et al. (2023); Brodeur et al. (Forthcoming)), and a very small fraction check whether the results are reproducible (Vilhuber et al. (2020)).'
I'm sorry to contradict the Harvard professor - ok not me directly - but an Oxford Professor, Ludovic Phalippou of Private Equity told me on a podcast that the headline figure for private equity is "useless" and "if you combine all of these fees, the average fund we are talking about in private equity gets a fee of about 700 basis points" (at 37min https://youtu.be/WKSWrjssSAM)
Entirely unrelated but interesting for some grumpy middle aged men perhaps, today via the Aporia substack: hope for the social sciences...
'Abel Brodeur and colleagues examine research reliability in economics and political science by attempting to replicate 110 papers in leading journals. They find that 85% are fully replicable. They also find that about 70% are robust to various re-analyses like introducing new data, though effect sizes for re-analyses tend to be smaller than the original ones.'
https://www.aporiamagazine.com/p/does-war-lead-to-norms-favouring?utm_source=post-email-title&publication_id=828904&post_id=144528592&utm_campaign=email-post-title&isFreemail=true&r=6mos7&triedRedirect=true&utm_medium=email#:~:text=A%20New%20Hope.-,Abel%20Brodeur%20and,-colleagues%20examine%20research
The original study (link in article) looks massive but that's the huge amount of material that comes with it. Abstract at page 7, conclusion at p 43. There's still a lot to do and i guess as academia sticks to rewarding production that won't be easily solved:
'Our results suffer from several limitations. To this date and despite some recent progress on the matter, only a small number of economics and political science journals request data and codes (Askarov et al. (2023); Brodeur et al. (Forthcoming)), and a very small fraction check whether the results are reproducible (Vilhuber et al. (2020)).'