Should We Reject the Natural Rate Hypothesis?

Should we reject the expertise hypothesis?

On the basis of a review of the literature and the results of three experiments with dog experts, Robbins and McKone [Robbins, R. A., & McKone, E. (2006). No face-like processing for objects-of-expertise in three behavioural tasks, Cognition] argue that there is little or no evidence supporting an expertise account of the differences in configural processing that are typically observed between ...

Why We Should Reject Biotech Patents from TRIPS

Evidence and simplicity: why we should reject homeopathy.

Homeopathic medications are used by millions, and hundreds of millions of dollars are spent on these remedies in the USA alone. In the UK, the NHS covers homeopathic treatments. Nonetheless, homeopathy is held in considerable disrepute by much of the medical and scientific community. Many proponents of homeopathy are well aware of these criticisms but remain unimpressed. The differences of opin...

Learning, Hedging, and the Natural Rate Hypothesis∗

We assume that firms actively manage risk by learning and hedging in two macroeconomic models, a simple cobweb model and a model of monopolistic competition that allows for the analysis of monetary policy and welfare. In both models, firms that learn (by paying a cost to observe the model’s stochastic shocks) face less uncertainty and produce more output than firms that hedge. Parameter or poli...

Principles: when there should be no difference--how to fail to reject the null hypothesis.

It is common to perform experiments in which a 'success' is claimed when the null hypothesis is discarded. However, there is a category of experiment that has become important in which a success is when the null hypothesis is not rejected. Failing to discard the null hypothesis is different from proving it to be valid, a distinction that is particularly important in experiments in which any ina...