Abstract
A brief introduction to the misuse and abuse of tests of statistical significance is presented. This is followed by an analysis of why such an inappropriate socially sub-optimal and inefficient practice can persist over time in the face of a multiplicity of competing peer-reviewed journals. It is argued that this practice is path dependent and represents a market failure often resulting in misleading research findings and misguided public policy. This can only be corrected by changes to institutional parameters related to publication.
Original language | English |
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Pages (from-to) | 651-663 |
Number of pages | 13 |
Journal | Journal of Socio-Economics |
Volume | 33 |
Issue number | 5 |
DOIs | |
Publication status | Published - Nov 2004 |
Keywords
- Institutional parameters
- Path dependency
- Peer-reviewed journals
- Statistical significance