In a world of big data, small effects can still matter: a reply to Boyce, Daly, Hounkpatin, and Wood (2017)
Accepted version
Peer-reviewed
Repository URI
Repository DOI
Change log
Authors
Abstract
We make three points in response to Boyce, Daly, Hounkpatin, and Wood (2017). First, we clarify a misunderstanding of the goal of our analyses, which was to investigate the links between life satisfaction and spending patterns, rather than spending volume. Second, we report a simulation study we ran to demonstrate that our results were not driven by the proposed statistical artifact. Finally, we discuss the broader issue of why, in a world of big data, small but reliable effect sizes can be valuable.
Description
Keywords
52 Psychology
Journal Title
Psychological Science
Conference Name
Journal ISSN
0956-7976
1467-9280
1467-9280
Volume Title
28
Publisher
SAGE Publications