If we adopt the conventional 5% level of statistical significance and 80% power level, as well, then the ‘true effect’ will need to be 2.8 standard errors from zero to discriminate it from zero. The value of 2.8 is the sum of the usual 1.96 for a significance level of 5% and 0.84 that is the standard normal value that makes a 20/80% split in its cumulative distribution. Hence, for a study to have adequate power, its standard error needs to be smaller than the absolute value of the underlying effect divided by 2.8. We make use of this relationship to survey adequate power in economics.
All that remains to calculate power are the values of the standard error and an estimate of ‘true’ effect. Because our survey of empirical economics produced 64,076 effect size estimates and their associated standard errors from 159 metaanalyses…, we have much information from which to work.
Simple weighted or unweighted averages of all reported estimates do much to eliminate sampling error and random misspecification bias, because the average number of estimates per metaanalysis in our survey is 403 (median = 191).
Several statistical methods have been developed to identify and accommodate potential publication and related reporting biases and others have proposed methods to detect and evaluate the extent of pvalue hacking. With information from 159 metaanalyses, these statistical methods can be used to approximate the genuine empirical effect, or at the least, to filter out some of the selection bias should it be present in a given area of research.
Table 1 reports the percentage of empirical economics findings that have ‘adequate power’, defined by the widely accepted convention that power is adequate if it is 80% or higher. It is clear that most of empirical economics is underpowered…. half of the areas of economics have approximately 10% or fewer of their estimates with adequate power.
Blogs I Follow

Recent Posts
 Recent activity by Salimata Korbeogo visiting libraries in northern Burkina Faso for FAVL
 Data analysis of Literature
 Compromise and the Civil War: Rejecting the euphemism of John Kelly
 Ioannidis et al. on low bias and publication bias in Economics the “con” game is still being played loud and even proud
 Quantifying effects of rent control in San Francisco… very large redistibrution and inefficiency
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Friends of African Village Libraries (I post regularly here)
 Conférence annuelle des bibliothécaires FAVL:Echanges sur le livre le roi du djadjo de Bali Nebié
 Les bibliothécaires du Tuy à la conférence annuelle des bibliothécaires
 Mission à Tikaré
 Session municipale à Sabcé
 Workshop  Learn, Imagine, Create in Kampala, Uganda, for librarians
 How does FAVL help? New fans, paint, windows at Sumbrungu Community Library
 Conférence annuelle des bibliothécaires FAVL
 Conférence annuelle des bibliothécaires FAVL
 Partenariat FAVL/ CRS : Rencontre avec le point focal à CRS
 Animation de lecture de livre photos à la bibliothèque de Pensa
 Une équipe de FAVL à la session municipale de la commune de Pensa
 Projet Beog Biiga II: FAVL rencontre les autorités communales de Tikaré
 Projet Beog Biiga II: Une équipe de FAVL dans le Bam et le Sanmatenga
 Visite à la bibliothèque de Kongoussi
 Repainting the "reading tree" at GowrieKunkua library