
John Ioannidis on Statistical Significance, Economics, and Replication
EconTalk
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Does This Work on Both Sides of the Question?
If you estimate for each one of these studies that have been done, what are the chances that they would have found that effect? They would have found a statistically significant signal if the effect was what is suggested by the largest studies. Their median chance would be 8.5%. So 50% of the studies would have 8.5% chances or less to be able to detect that signal which is amazing. I mean, if you think of that, these studies are depressing actually. iReport.com: Are minimum wages worth more than $1 an hour in your state and region?
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