The Economics of Research Reproducibility

43 Pages Posted: 12 Jul 2019 Last revised: 15 Jul 2021

See all articles by Jean-Edouard Colliard

Jean-Edouard Colliard

HEC Paris - Finance Department

Christophe Hurlin

University of Orleans

Christophe Pérignon

HEC Paris - Finance Department

Date Written: July 7, 2021

Abstract

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

Colliard, Jean-Edouard and Hurlin, Christophe and Pérignon, Christophe, The Economics of Research Reproducibility (July 7, 2021). HEC Paris Research Paper No. FIN-2019-1345, Available at SSRN: https://ssrn.com/abstract=3418896 or http://dx.doi.org/10.2139/ssrn.3418896

Jean-Edouard Colliard

HEC Paris - Finance Department ( email )

France

Christophe Hurlin

University of Orleans ( email )

Université d'Orléans
Rue de Blois B.P. 6739 45
France

Christophe Pérignon (Contact Author)

HEC Paris - Finance Department ( email )

1 rue de la Liberation
Jouy-en-Josas Cedex, 78351
France

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