The Economics of Research Reproducibility
51 Pages Posted: 12 Jul 2019 Last revised: 27 Dec 2021
Date Written: December 23, 2021
We investigate why economics displays a relatively low level of research reproducibility. We first study the benefits and costs of reproducibility for readers (demand side) and authors (supply side), as well as the role of academic journals in matching both sides. Second, we prove that competition between journals to attract authors can lead to a suboptimally low level of reproducibility. Third, we show how to optimize the costs of reproducibility and estimate that reaching the highest level of reproducibility could cost USD 365 per paper. Finally, we discuss how leading journals can move economics out of a low-reproducibility equilibrium.
Keywords: data availability policy, open science, confidential data, replicability
JEL Classification: C80, C81, C88
Suggested Citation: Suggested Citation