Reply to Jann: Market Premium, Social Process, and Statisticism

Statistics is a powerful, yet potentially dangerous, tool. More than two decades ago, the late Otis Dudley Duncan (1984:226) warned us concerning the danger of"statisticism": "the notion that computing is synonymous with doing research, the naive faith that statistics is a complete or sufficient basis for scientific methodology, the superstition that statistical formulas exist for evaluating such things as the relative merits of different substantive theo-