We examine potential selective reporting in the literature on the social cost of carbon (SCC) by conducting a meta-analysis of 809 estimates of the SCC reported in 101 studies. Our results indicate that estimates for which the 95% confidence interval includes zero are less likely to be reported...

We collect 1,021 estimates from 92 studies that use the consumption Euler equation to measure relative risk aversion and that disentangle it from intertemporal substitution. We show that calibrations of risk aversion are typically larger than estimates thereof. Moreover, reported estimates are...

We provide the first quantitative survey of the empirical literature on hedge fund per- formance. We examine the impact of potential biases on the reported results. Empirical analysis in prior studies has been plagued by fragmentation of underlying data and by lim- ited consensus on how hedge...

This paper provides concise, nontechnical, step-by-step guidelines on how to conduct a modern meta-analysis, especially in social sciences. We treat publication bias, p-hacking, and heterogeneity as phenomena meta-analysts must always confront. To this end, we provide concrete methodological...

Meta-analysis upweights studies reporting lower standard errors and hence more precision. But in empirical practice, notably in observational research, precision is not given to the researcher. Precision must be estimated, and thus can be p-hacked to achieve statistical significance. Simulations...

Class size reduction mandates are frequent and invariably justified by studies reporting positive effects on student achievement. Yet other studies report no effects, and the literature as a whole awaits correction for potential publication bias. Moreover, if identification drives results...

Standard economics models require that financial incentives improve performance, while leading theories in psychology allow for the opposite. Experimental results are mixed, and so far have not been corrected for publication bias and model uncertainty. We collect 1,568 economics estimates...

We examine the factors influencing published estimates of hedge fund performance. Using a sample of 1,019 intercept terms from regressions of hedge fund returns on risk factors (the "alphas") collected from 74 studies, we document a strong downward trend in the reported alphas. The trend...

Common wisdom suggests that beauty helps in the labor market. We show that two factors combine to explain away the mean beauty premium reported in the literature. First, correcting for publication bias reduces the premium by at least a third. Second, controlling for cognitive ability negates the...

National borders reduce trade, but most estimates of the border effect seem puzzlingly large. We show that major methodological innovations of the last decade combine to shrink the border effect to a one-third reduction in international trade flows worldwide. The border effect varies across...