Note: This article was originally posted on the CFA Institute Enterprising Investor blog on 30 June 2020. One of the things researchers in economics and finance always get asked first is: “But is it significant?” This is an interesting contrast to: “Does it matter?”
I love this. Thing is it's not only in economics. Imagine genetics were you run a lot of tests and there is a lot of data. Good science is very hard and the incentive is to produce irrelevant of good or bad. There are already many stories about all the terrible Covid-19 related science.
I love this. Thing is it's not only in economics. Imagine genetics were you run a lot of tests and there is a lot of data. Good science is very hard and the incentive is to produce irrelevant of good or bad. There are already many stories about all the terrible Covid-19 related science.
Here is a discussion about Physics: https://twitter.com/david_colquhoun/status/1280963340144185344?s=20
the running joke is that Peter Higgs (Higgs Bozon)would not have made it in the current environment.
That's the performance aspect. Add to that the whole political correctness thing at the university and doing good science becomes even harder.
Sadly Statistics is a great tool that very often gets abused.
Thanks for sharing that Abadie paper.