We characterize our human experience with uncertainty and with variance. Don’t expect anything better from data science on that human experience.

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Weak instruments are a problem in any method dealing with endogeneity where an instrument varible is a proxy for random selection. Heckman selection models share a similar problem of weak instruments, and it has to do with the exclusion restriction.

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In the case of logit models with continuous predictors,it takes some extra work to make sense of and really get a handle on the relationship the predictors and the outcome. Marginal effects and predicted probabilities are, to me, a must have in logit model analysis, particularly with continuous predictors.

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I’m a big fan of logit models. Because we can turn the results of a logit model into a set of predicted probabilities, they let us answer questions that are really interesting to academics and entrepreneurs.

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What limits our impact on management practice is a lack of rigor, and not an excess of it.

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The bottom line is that there is no substitute for using your own judgement when evaluating a study. Ask yourself just how likely it is that the null hypothesis is to be true, particularly when evaluating research purporting to offer surprising, novel, and counterintuitive findings.

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I am actually a big fan of theory; I amm just not wild about the ways in which we (management and entrepreneurship scholars) test it. The driving reason is theoretical looseness; the ability to offer any number of theoretical explanations for a phenomenon of interest.

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In writing decision letters as a journal editor, I find that I am often making similar observations regarding reported empirics in a study, so I thought I would crystalize my five primary guidelines for evaluating a study.

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I am a fan of John Ioannidis and his work. He’s done a lot to raise attention to the use and abuse of frequentist statistics in, well, lots of the sciences.

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I am not a fan of the necessity to have a novel theoretical contribution to publish in top management journals. Arguably, I think this standard has contributed to the replication crisis in the social sciences. Nonetheless, that is the standard, so it’s helpful to think through just what a theoretical contribution means in the era of the replication crisis.

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