The Economics of Research Reproducibility
43 Pages Posted: 12 Jul 2019 Last revised: 15 Jul 2021
Date Written: July 7, 2021
Empirical evidence documents a relatively low level of research reproducibility in economics. In this paper, we investigate why this is the case and what can be done to move out of this low-reproducibility equilibrium. We study the supply and demand for research reproducibility, provide empirical evidence on authors' preferences for reproducibility, and estimate the cost of verifying reproducibility. We theoretically show that competition between journals to attract authors leads to a suboptimally low level of reproducibility. Leading journals with sufficient market power can set higher reproducibility standards, which is consistent with recent changes in data availability policies.
Keywords: data availability policy, open science, confidential data, replicability
JEL Classification: C80, C81, C88
Suggested Citation: Suggested Citation