New method exposes flaws in common tests for parameter consistency
The article discusses tests to check if the results of a study are reliable. It reviews existing tests in simple linear models and introduces new ways to make them more powerful. The researchers show how these tests can be calculated in more complex models using artificial regressions. They also develop a new test to check for consistency of parameters. In binary choice models, the new test performs better than traditional ones. The study suggests that the most common test for consistency can be unreliable in large samples.