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Is There a Cult of Statistical Significance in Agricultural Economics?
Author(s) -
Rommel Jens,
Weltin Meike
Publication year - 2021
Publication title -
applied economic perspectives and policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.4
H-Index - 49
eISSN - 2040-5804
pISSN - 2040-5790
DOI - 10.1002/aepp.13050
Subject(s) - agriculture , economics , cult , statistical analysis , power (physics) , positive economics , economic science , process (computing) , agricultural economics , econometrics , classical economics , political science , statistics , history , mathematics , computer science , law , physics , quantum mechanics , operating system , archaeology
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.