False Feedback in Economics: The Case for Replication

Economics makes less visible progress than scientific fields with a strong practical component due to false feedback, which is hard to recognize. This book investigates the reasons behind the emergence of false feedback and offers a case study of metascience for empirical economics. It provides numerous insights and solutions for applied researchers working with data.

Format: Hardback
Length: 148 pages
Publication date: 22 July 2021
Publisher: Taylor & Francis Ltd

This captivating book delves into the intriguing question of why economics, despite its practical nature and engagement with physical technologies, seems to make less visible progress over time compared to other scientific fields. The author's central thesis is that the primary obstacle to progress in economics lies in the presence of false feedback, which is defined as the erroneous outcome of empirical studies, particularly when statistical models violate their underlying assumptions. Unlike scientific disciplines that heavily rely on physical technologies, identifying false feedback in economics can be challenging, leading economists to struggle with their inquiry and frequently steer them in the wrong direction.

To explore the origins of false feedback, the book conducts a comprehensive examination, contributing to a broader discussion in the field of metascience about the practices of researchers in their daily endeavors. By presenting a case study of metascience within the realm of empirical economics, the book offers valuable insights and perspectives.

One of the book's greatest strengths lies in the numerous smaller insights it provides throughout. The author delves into deep discussions of various theoretical issues, illustrating them with numerous applied examples and a wide array of references, particularly to the philosophy of science. This approach helps to make complex and often abstract subjects more accessible and relatable to the reader, particularly when dealing with controversial topics such as p-hacking.

Through its comprehensive exploration, the book provides the reader with a comprehensive understanding of the main challenges faced in empirical economic research. It also offers potential solutions to these challenges, making it an invaluable resource for applied researchers working with data, particularly those who have encountered problematic aspects of their research practice.

The book's primary audience consists of applied researchers who specialize in data analysis, particularly those who have encountered challenges in their research endeavors. Its insights and recommendations will be of great value to these professionals as they seek to improve their methods and achieve more accurate and reliable results.

In conclusion, this thought-provoking book offers a valuable contribution to the field of economics and metascience. By shedding light on the origins of false feedback and providing practical solutions to overcome its challenges, it empowers applied researchers to enhance their research practices and contribute to the advancement of economic knowledge. Whether you are an economist, data analyst, or simply interested in the intersection of science and society, this book is a must-read for anyone seeking to understand the complexities of empirical economic research and its potential for growth.

Weight: 378g
Dimension: 160 x 243 x 15 (mm)
ISBN-13: 9781032033716