Replicability of Experimental Data and Credibility of Economic Theory

• Published in: Japanese economic review (Oxford, England) Vol. 69; no. 1; pp. 4 - 25
• Main Author: Kandori, Michihiro
• Format: Journal Article
• Language: English
• Published: Singapore Springer Singapore 01.03.2018; Springer Nature B.V
• Subjects: Credibility; Development Economics; Econometrics; Economic History; Economic theory; Economics; Macroeconomics/Monetary Economics//Financial Economics; Microeconomics; A11; C92; B41; C72

Finding a data set that supports a theory is not enough for the theory to gain credibility. Credibility of a theory is established only after the initial supporting finding can be replicated by a number of follow-up studies. Economics so far has paid little attention to replicability, presumably bec...