Associate Dr. Philip Drummond coauthored an article on nonstandard errors in a recent issue of The Journal of Finance.

In science, evidence is generated to test hypotheses in an evidence-generating process (EGP). In the article, the authors claim that EGP variation across researchers adds uncertainty in the form of nonstandard errors. The authors studied nonstandard errors by letting 164 teams test the same hypotheses on the same data. They found that, while this type of uncertainty is underestimated by the participants, adding peer review stages reduced nonstandard errors.

The full article, “Nonstandard Errors,” is available at the link below.

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