Nonstandard Errors
Albert J.
Menkveld;
Anna
Dreber;
Felix
Holzmeister;
Jürgen
Huber;
Magnus
Johannesson;
Michael
Kirchler;
SEBASTIAN
NEUSÜß;
Michael
Razen;
Utz
Weitzel;
DAVID
ABAD-DÍAZ;
Menachem
Abudy;
Tobias
Adrian;
Yacine
Aït-Sahalia;
Olivier
Akmansoy;
Jamie
Alcock;
Vitali
Alexeev;
Arash
Aloosh;
LIVIA
AMATO;
Diego
Amaya;
James J.
Angel;
ALEJANDRO T.
AVETIKIAN;
AMADEUS
BACH;
EDWIN
BAIDOO;
GAETAN
BAKALLI;
LI
BAO;
Andrea
Barbon;
OKSANA
BASHCHENKO;
Parampreet Christopher
Bindra;
Geir Høidal
Bjønnes;
Jeffrey R.
Black;
Bernard S.
Black;
DIMITAR
BOGOEV;
SANTIAGO BOHORQUEZ
CORREA;
Oleg
Bondarenko;
CHARLES S.
BOS;
Ciril
Bosch-Rosa;
ELIE
BOURI;
Christian T.
Brownlees;
ANNA
CALAMIA;
Viet Nga
Cao;
Gunther
Capelle-Blancard;
LAURA M. CAPERA
ROMERO;
Massimiliano
Caporin;
Allen
Carrion;
TOLGA
CASKURLU;
Bidisha
Chakrabarty;
Jian
Chen;
Mikhail
Chernov;
WILLIAM
CHEUNG;
LUDWIG B.
CHINCARINI;
Tarun
Chordia;
SHEUNG-CHI
CHOW;
BENJAMIN
CLAPHAM;
Jean-Edouard
Colliard;
Carole
Comerton-Forde;
EDWARD
CURRAN;
THONG
DAO;
WALE
DARE;
Ryan J.
Davies;
RICCARDO DE
BLASIS;
GIANLUCA F. DE
NARD;
Fany
Declerck;
OLEG
DEEV;
Hans
Degryse;
SOLOMON Y.
DEKU;
CHRISTOPHE
DESAGRE;
Mathijs A. van
Dijk;
Chukwuma
Dim;
Thomas
Dimpfl;
YUN JIANG
DONG;
PHILIP A.
DRUMMOND;
Tom L.
Dudda;
TEODOR
DUEVSKI;
Ariadna
Dumitrescu;
Teodor
Dyakov;
Anne Haubo
Dyhrberg;
Michał
Dzieliński;
ASLI
EKSI;
Izidin El
Kalak;
Saskia ter
Ellen;
Nicolas
Eugster;
Martin D. D.
Evans;
Michael
Farrell;
ESTER
FELEZ-VINAS;
Gerardo
Ferrara;
EL MEHDI
FERROUHI;
Andrea
Flori;
JONATHAN T.
FLUHARTY-JAIDEE;
Sean
Foley;
Kingsley Y. L.
Fong;
Thierry
Foucault;
TATIANA
FRANUS;
Francesco A.
Franzoni;
Bart
Frijns;
MICHAEL
FRÖMMEL;
SERVANNA M.
FU;
Sascha
Füllbrunn;
BAOQING
GAN;
GE
GAO;
Thomas
Gehrig;
ROLAND
GEMAYEL;
DIRK
GERRITSEN;
Javier
Gil-Bazo;
Dudley
Gilder;
Lawrence R.
Glosten;
THOMAS
GOMEZ;
Arseny
Gorbenko;
Joachim
Grammig;
Vincent
Grégoire;
Ufuk
Güçbilmez;
Björn
Hagströmer;
JULIEN
HAMBUCKERS;
ERIK
HAPNES;
Jeffrey H.
Harris;
Lawrence
Harris;
SIMON
HARTMANN;
JEAN-BAPTISTE
HASSE;
Nikolaus
Hautsch;
XUE-ZHONG (TONY)
HE;
Davidson
Heath;
SIMON
HEDIGER;
Terrence
Hendershott;
Ann Marie
Hibbert;
Erik
Hjalmarsson;
Seth A.
Hoelscher;
Peter
Hoffmann;
Craig W.
Holden;
Alex R.
Horenstein;
Wenqian
Huang;
DA
HUANG;
Christophe
Hurlin;
KONRAD
ILCZUK;
ALEXEY
IVASHCHENKO;
Subramanian R.
Iyer;
Hossein
Jahanshahloo;
NAJI
JALKH;
Charles M.
Jones;
SIMON
JURKATIS;
Petri
Jylhä;
ANDREAS T.
KAECK;
GABRIEL
KAISER;
ARZÉ
KARAM;
Egle
Karmaziene;
BERNHARD
KASSNER;
Markku
Kaustia;
EKATERINA
KAZAK;
Fearghal
Kearney;
Vincent van
Kervel;
SAAD A.
KHAN;
MARTA K.
KHOMYN;
Tony
Klein;
OLGA
KLEIN;
Alexander
Klos;
Michael
Koetter;
Aleksey
Kolokolov;
Robert A.
Korajczyk;
Roman
Kozhan;
Jan P.
Krahnen;
PAUL
KUHLE;
Amy
Kwan;
QUENTIN
LAJAUNIE;
F. Y. Eric C.
Lam;
Marie
Lambert;
Hugues
Langlois;
JENS
LAUSEN;
Tobias
Lauter;
Markus
Leippold;
VLADIMIR
LEVIN;
YIJIE
LI;
HUI
LI;
CHEE YOONG
LIEW;
THOMAS
LINDNER;
Oliver
Linton;
JIACHENG
LIU;
Anqi
Liu;
Guillermo
Llorente;
Matthijs
Lof;
ARIEL
LOHR;
FRANCIS
LONGSTAFF;
Alejandro
Lopez-Lira;
Shawn
Mankad;
NICOLA
MANO;
ALEXIS
MARCHAL;
Charles
Martineau;
Francesco
Mazzola;
Debrah
Meloso;
MICHAEL G.
MI;
Roxana
Mihet;
Vijay
Mohan;
Sophie
Moinas;
DAVID
MOORE;
Liangyi
Mu;
Dmitriy
Muravyev;
Dermot
Murphy;
GABOR
NESZVEDA;
CHRISTIAN
NEUMEIER;
Ulf
Nielsson;
Mahendrarajah
Nimalendran;
Sven
Nolte;
LARS L.
NORDEN;
Peter
O’Neill;
Khaled
Obaid;
BERNT A.
ØDEGAARD;
Per
Östberg;
EMILIANO
PAGNOTTA;
Marcus
Painter;
Stefan
Palan;
IMON J.
PALIT;
Andreas
Park;
Roberto
Pascual;
Paolo
Pasquariello;
Ľuboš
Pástor;
VINAY
PA℡;
Andrew J.
Patton;
Neil D.
Pearson;
Loriana
Pelizzon;
MICHELE
PELLI;
Matthias
Pelster;
Christophe
Pérignon;
CAMERON
PFIFFER;
Richard
Philip;
TOMÁŠ
PLÍHAL;
PUNEET
PRAKASH;
OLIVER-ALEXANDER
PRESS;
TINA
PRODROMOU;
Marcel
Prokopczuk;
Talis
Putnins;
YA
QIAN;
GAURAV
RAIZADA;
David
Rakowski;
Angelo
Ranaldo;
Luca
Regis;
Stefan
Reitz;
Thomas
Renault;
REX W.
RENJIE;
Roberto
Renò;
Steven J.
Riddiough;
Kalle
Rinne;
PAUL
RINTAMÄKI;
Ryan
Riordan;
THOMAS
RITTMANNSBERGER;
IÑAKI RODRÍGUEZ
LONGARELA;
Dominik
Roesch;
LAVINIA
ROGNONE;
Brian
Roseman;
Ioanid
Roşu;
Saurabh
Roy;
NICOLAS
RUDOLF;
STEPHEN R.
RUSH;
Khaladdin
Rzayev;
ALEKSANDRA A.
RZEŹNIK;
Anthony
Sanford;
Harikumar
Sankaran;
Asani
Sarkar;
Lucio
Sarno;
Olivier
Scaillet;
STEFAN
SCHARNOWSKI;
KLAUS R.
SCHENK-HOPPÉ;
ANDREA
SCHERTLER;
MICHAEL
SCHNEIDER;
FLORIAN
SCHROEDER;
Norman
Schürhoff;
Philipp
Schuster;
MARCO A.
SCHWARZ;
Mark S.
Seasholes;
Norman J.
Seeger;
Or
Shachar;
Andriy
Shkilko;
JESSICA
SHUI;
MARIO
SIKIC;
Giorgia
Simion;
Lee A.
Smales;
Paul
Söderlind;
Elvira
Sojli;
Konstantin
Sokolov;
JANTJE
SÖNKSEN;
Laima
Spokeviciute;
Denitsa
Stefanova;
Marti G.
Subrahmanyam;
BARNABAS
SZASZI;
Oleksandr
Talavera;
Yuehua
Tang;
Nick
Taylor;
Wing Wah
Tham;
Erik
Theissen;
Julian
Thimme;
Ian
Tonks;
Hai
Tran;
Luca
Trapin;
Anders B.
Trolle;
M. ANDREEA
VADUVA;
Giorgio
Valente;
Robert A. Van
Ness;
Aurelio
Vasquez;
Thanos
Verousis;
Patrick
Verwijmeren;
ANDERS
VILHELMSSON;
Grigory
Vilkov;
Vladimir
Vladimirov;
SEBASTIAN
VOGEL;
Stefan
Voigt;
Wolf
Wagner;
THOMAS
WALTHER;
Patrick
Weiss;
Michel van der
Wel;
Ingrid M.
Werner;
P. Joakim
Westerholm;
Christian
Westheide;
HANS C.
WIKA;
Evert
Wipplinger;
Michael
Wolf;
Christian C. P.
Wolff;
LEONARD
WOLK;
WING-KEUNG
WONG;
Jan
Wrampelmeyer;
Zhen-Xing
Wu;
Shuo
Xia;
Dacheng
Xiu;
KE
XU;
CAIHONG
XU;
Pradeep K.
Yadav;
JOSÉ
YAGÜE;
Cheng
Yan;
Antti
Yang;
Woongsun
Yoo;
WENJIA
YU;
YIHE
YU;
Shihao
Yu;
Bart Z.
Yueshen;
Darya
Yuferova;
MARCIN
ZAMOJSKI;
Abalfazl
Zareei;
STEFAN M.
ZEISBERGER;
LU
ZHANG;
S. Sarah
Zhang;
Xiaoyu
Zhang;
LU
ZHAO;
Zhuo
Zhong;
Z. IVY
ZHOU;
CHEN
ZHOU;
XINGYU S.
ZHU;
Marius
Zoican;
REMCO
ZWINKELS
Journal of Finance
2024
79(3), 2339-2390
open access
In statistics, samples are drawn from a population in a data‐generating process (DGP). Standard errors measure the uncertainty in estimates of population parameters. In science, evidence is generated to test hypotheses in an evidence‐generating process (EGP). We claim that EGP variation across researchers adds uncertainty—nonstandard errors (NSEs). We study NSEs by letting 164 teams test the same hypotheses on the same data. NSEs turn out to be sizable, but smaller for more reproducible or higher rated research. Adding peer‐review stages reduces NSEs. We further find that this type of uncertainty is underestimated by participants.