John Ioannidis on Statistical Significance, Economics, and Replication
EconTalk
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Is There a Minimum Wage Effect?
When you're operating in an underpowered environment, you have two problems. One is the obvious that you have a very high chance of false negative. And it could be that the smaller the power that you are operating with, if you do detect something, even if it is real, the magnitude of the effect size will be substantially inflated.
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