Reproducibility in scientific research
In the past year or two, the reproducibility of research results in finance and economics has come under serious question.
If it is any comfort, similar difficulties have emerged in numerous other scientific fields. In 2011, a team of Bayer researchers attempted to reproduce a set of key published pharmaceutical studies. They were only able to validate 11 out of 67 of these studies. Similarly, in 2012, Amgen attempted to reproduce a set of studies in oncology (cancer). They were only able to reproduce 6 out of 53 (11%). A commentary in Nature remarked, “Even knowing
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