4.8 Article

Evaluating replicability of laboratory experiments in economics

Journal

SCIENCE
Volume 351, Issue 6280, Pages 1433-1436

Publisher

AMER ASSOC ADVANCEMENT SCIENCE
DOI: 10.1126/science.aaf0918

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Funding

  1. Austrian Science Fund (START) [Y617-G11]
  2. Austrian National Bank [OeNB 14953]
  3. Behavioral and Neuroeconomics Discovery Fund
  4. Jan Wallander and Tom Hedelius Foundation [P2015-0001:1, P2013-0156:1]
  5. Knut and Alice Wallenberg Foundation
  6. Swedish Foundation for Humanities and Social Sciences [NHS14-1719:1]
  7. Sloan Foundation [G-2015-13929]
  8. Swedish Foundation for Humanities and Social Sciences [NHS14-1719:1] Funding Source: Swedish Foundation for Humanities and Social Sciences

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The replicability of some scientific findings has recently been called into question. To contribute data about replicability in economics, we replicated 18 studies published in the American Economic Review and the Quarterly Journal of Economics between 2011 and 2014. All of these replications followed predefined analysis plans that weremade publicly available beforehand, and they all have a statistical power of at least 90% to detect the original effect size at the 5% significance level. We found a significant effect in the same direction as in the original study for 11 replications (61%); on average, the replicated effect size is 66% of the original. The replicability rate varies between 67% and 78% for four additional replicability indicators, including a prediction market measure of peer beliefs.

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