Conventional wisdom, meta-analysis, and research revision in economics

Arbeitspapier

Over the past several decades, meta-analysis has emerged as a widely accepted tool to understand economics research. Meta-analyses often challenge the established conventional wisdom of their respective fields. We systematically review a wide range of influential meta-analyses in economics and compare them to 'conventional wisdom.' After correcting for observable biases, the empirical economic effects are typically much closer to zero and sometimes switch signs. Typically, the relative reduction in effect sizes is 45-60%.

Object Details

• Language: Deutsch

References and Relationships

• Bibliographic citation: Series: Chemnitz Economic Papers ; No. 061

Classification and Topics

• Classification: Wirtschaft ; Sociology of Economics ; Economic Methodology: General ; Econometric and Statistical Methods and Methodology: General
• Subject: meta-analysis ; systematic review ; conventional wisdom

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Gechert, Sebastian ; Mey, Bianka ; Opatrny, Matej ; Havránek, Tomáš ; Stanley, Tom D. ; Bom, Pedro R. D. ; Doucouliagos, Chris ; Heimberger, Philipp ; Havránková, Zuzana ; Rachinger, Heiko J.
• Event: Veröffentlichung
• (who): Chemnitz University of Technology, Faculty of Economics and Business Administration
• (where): Chemnitz
• (when): 2023

Further information

• Handle: http://hdl.handle.net/10419/281380
• Last update: 10.03.2025, 11:41 AM CET