The Economics of Research Reproducibility

We investigate why economics displays a relatively low level of
research reproducibility. We rst study the bene ts and costs of reproducibility
for readers (demand side) and authors (supply side), as well as the role of academic
journals in matching both sides. Second, we prove that competition between journals
to attract authors can lead to a suboptimally low level of reproducibility. Third, we
show how to optimize the costs of reproducibility and estimate that reaching the
highest level of reproducibility could cost USD 365 per paper. Finally, we discuss
how leading journals can move economics out of a low-reproducibility equilibrium.