No 2021:17: Non-Standard Errors

Albert J. Menkveld, Anna Dreber, Felix Holzmeister, Juergen Huber, Magnus Johannesson, Michael Kirchler, Sebastian Neusüss, Michael Razen, Utz Weitzel, David Abad-Díaz, et al (333 additional author(s)) Menachem Abudy, Tobias Adrian, Yacine Ait-Sahalia, Olivier Akmansoy, Jamie T. Alcock, Vitali Alexeev, Arash Aloosh, Livia Amato, Diego Amaya, James J. Angel, Alejandro T. Avetikian, Amadeus Bach, Edwin Baidoo, Gaetan Bakalli, Li Bao, Andrea Barbon, Oksana Bashchenko, Parampreet C. Bindra, Geir H. Bjønnes, Jeffrey R. Black, Bernard S. Black, Dimitar Bogoev, Santiago Bohorquez Correa, Oleg Bondarenko, Charles S. Bos, Ciril Bosch-Rosa, Elie Bouri, Christian Brownlees, Anna Calamia, Viet Nga Cao, Gunther Capelle-Blancard, Laura M. Capera Romero, Massimiliano Caporin, Allen Carrion, Tolga Caskurlu, Bidisha Chakrabarty, Jian Chen, Mikhail Chernov, William Cheung, Ludwig B. Chincarini, Tarun Chordia, Sheung Chi Chow, Benjamin Clapham, Jean-Edouard Colliard, Carole Comerton-Forde, Edward Curran, Thong Dao, Wale Dare, Ryan J. Davies, Riccardo De Blasis, Gianluca F. De Nard, Fany Declerck, Oleg Deev, Hans Degryse, Solomon Y. Deku, Christophe Desagre, Mathijs A. van Dijk, Chukwuma Dim, Thomas Dimpfl, Yun Jiang Dong, Philip A. Drummond, Tom Dudda, Teodor Duevski, Ariadna Dumitrescu, Teodor Dyakov, Anne Haubo Dyhrberg, Michał Dzieliński, Asli Eksi, Izidin El Kalak, Saskia ter Ellen, Nicolas Eugster, Martin D. D. Evans, Michael Farrell, Ester Felez-Vinas, Gerardo Ferrara, El Mehdi Ferrouhi, Andrea Flori, Jonathan T. Fluharty, Sean D. V. Foley, Kingsley Y. L. Fong, Thierry Foucault, Tatiana Franus, Francesco Franzoni, Bart Frijns, Michael Frömmel, Servanna M. Fu, Sascha C. Füllbrunn, Baoqing Gan, Ge Gao, Thomas P. Gehrig, Roland Gemayel, Dirk Gerritsen, Javier Gil-Bazo, Dudley Gilder, Lawrence R. Glosten, Thomas Gomez, Arseny Gorbenko, Joachim Grammig, Vincent Grégoire, Ufuk Güçbilmez, Björn Hagströmer, Julien Hambuckers, Erik Hapnes, Jeffrey H. Harris, Lawrence Harris, Simon Hartmann, Jean-Baptiste Hasse, Nikolaus Hautsch, Xue-Zhong (Tony) He, Davidson Heath, Simon Hediger, Terrence Hendershott, Ann Marie Hibbert, Erik Hjalmarsson, Seth Hoelscher, Peter Hoffmann, Craig W. Holden, Alex R. Horenstein, Wenqian Huang, Da Huang, Christophe Hurlin, Konrad Ilczuk, Alexey Ivashchenko, Subramanian R. Iyer, Hossein Jahanshahloo, Naji P. Jalkh, Charles M. Jones, Simon Jurkatis, Petri Jylhä, Andreas T. Kaeck, Gabriel Kaiser, Arzé Karam, Egle Karmaziene, Bernhard Kassner, Markku Kaustia, Ekaterina Kazak, Fearghal Kearney, Vincent van Kervel, Saad A. Khan, Marta K. Khomyn, Tony Klein, Olga Klein, Alexander Klos, Michael Koetter, Aleksey Kolokolov, Robert A. Korajczyk, Roman Kozhan, Jan P. Krahnen, Paul Kuhle, Amy Kwan, Quentin Lajaunie, F. Y. Eric C. Lam, Marie Lambert, Hugues Langlois, Jens Lausen, Tobias Lauter, Markus Leippold, Vladimir Levin, Yijie Li, Hui Li, Chee Yoong Liew, Thomas Lindner, Oliver Linton, Jiacheng Liu, Anqi Liu, Guillermo Llorente, Matthijs Lof, Ariel Lohr, Francis Longstaff, Alejandro Lopez-Lira, Shawn Mankad, Nicola Mano, Alexis Marchal, Charles Martineau, Francesco Mazzola, Debrah Meloso, Michael G. Mi, Roxana Mihet, Vijay Mohan, Sophie Moinas, David Moore, Liangyi Mu, Dmitriy Muravyev, Dermot Murphy, Gabor Neszveda, Christian Neumeier, Ulf Nielsson, Mahendrarajah Nimalendran, Sven Nolte, Lars L. Norden, Peter W. O'Neill, Khaled Obaid, Bernt A. Ødegaard, Per Östberg, Emiliano Pagnotta, Marcus Painter, Stefan Palan, Imon J. Palit, Andreas Park, Roberto Pascual, Paolo Pasquariello, Lubos Pastor, Vinay Patel, Andrew J. Patton, Neil D. Pearson, Loriana Pelizzon, Michele Pelli, Matthias Pelster, Christophe Pérignon, Cameron Pfiffer, Richard Philip, Tomáš Plíhal, Puneet Prakash, Oliver-Alexander Press, Tina Prodromou, Marcel Prokopczuk, Talis Putnins, Ya Qian, Gaurav Raizada, David Rakowski, Angelo Ranaldo, Luca Regis, Stefan Reitz, Thomas Renault, Rex W. Renjie, Roberto Reno, Steven J. Riddiough, Kalle Rinne, Paul J. Rintamäki, Ryan Riordan, Thomas Rittmannsberger, Iñaki Rodríguez Longarela, Dominik Roesch, Lavinia Rognone, Brian Roseman, Ioanid Rosu, Saurabh Roy, Nicolas Rudolf, Stephen R. Rush, Khaladdin Rzayev, Aleksandra A. Rzeźnik, Anthony Sanford, Harikumar Sankaran, Asani Sarkar, Lucio Sarno, Olivier Scaillet, Stefan Scharnowski, Klaus R. Schenk-Hoppé, Andrea Schertler, Michael Schneider, Florian Schroeder, Norman Schürhoff, Philipp Schuster, Marco A. Schwarz, Mark S. Seasholes, Norman J. Seeger, Or Shachar, Andriy Shkilko, Jessica Shui, Mario Sikic, Giorgia Simion, Lee A. Smales, Paul Söderlind, Elvira Sojli, Konstantin Sokolov, Jantje Sönksen, Laima Spokeviciute, Denitsa Stefanova, Marti G. Subrahmanyam, Barnabas Szaszi, Oleksandr Talavera, Yuehua Tang, Nick Taylor, Wing Wah Tham, Erik Theissen, Julian Thimme, Ian Tonks, Hai Tran, Luca Trapin, Anders B. Trolle, M. Andreea Vaduva, Giorgio Valente, Robert A. Van Ness, Aurelio Vasquez, Thanos Verousis, Patrick Verwijmeren, Anders Vilhelmsson (), Grigory Vilkov, Vladimir Vladimirov, Sebastian Vogel, Stefan Voigt, Wolf Wagner, Thomas Walther, Patrick Weiss, Michel van der Wel, Ingrid M. Werner, Joakim Westerholm, Christian Westheide, Hans C. Wika, Evert Wipplinger, Michael Wolf, Christian C. P. Wolff, Leonard Wolk, Wing-Keung Wong, Jan Wrampelmeyer, Zhen-Xing Wu, Shuo Xia, Dacheng Xiu, Ke Xu, Caihong Xu, Pradeep K. Yadav, José Yagüe, Cheng Yan, Antti Yang, Woongsun Yoo, Wenjia Yu, Yihe Yu, Shihao Yu, Bart Z. Yueshen, Darya Yuferova, Marcin Zamojski, Abalfazl Zareei, Stefan M. Zeisberger, Lu Zhang, S. Sarah Zhang, Xiaoyu Zhang, Lu Zhao, Zhuo Zhong, Zeyang (Ivy) Zhou, Chen Zhou, Xingyu S. Zhu, Marius Zoican and Remco Zwinkels
Additional contact information
Albert J. Menkveld: Vrije Universiteit Amsterdam
Anna Dreber: Stockholm School of Economics
Felix Holzmeister: University of Innsbruck
Juergen Huber: University of Innsbruck
Magnus Johannesson: Stockholm School of Economics
Michael Kirchler: University of Innsbruck
Michael Razen: University of Innsbruck
Utz Weitzel: Vrije Universiteit Amsterdam
David Abad-Díaz: University of Alicante
Menachem Abudy: Bar-Ilan University
Tobias Adrian: International Monetary Fund
Yacine Ait-Sahalia: Princeton University
Olivier Akmansoy: CNRS
Jamie T. Alcock: University of Oxford
Vitali Alexeev: University of Technology Sydney
Arash Aloosh: Neoma Business School
Livia Amato: University of Chicago Booth School of Business
Diego Amaya: Wilfrid Laurier University
James J. Angel: Georgetown University
Alejandro T. Avetikian: Pontificia Universidad Católica de Chile
Amadeus Bach: University of Mannheim
Edwin Baidoo: Tennessee Technological University
Gaetan Bakalli: Auburn University
Li Bao: Toulouse 1 Capitole University
Andrea Barbon: University of St. Gallen
Oksana Bashchenko: SFI at University of Lausanne
Parampreet C. Bindra: University of Innsbruck
Geir H. Bjønnes: BI Norwegian Business School
Jeffrey R. Black: University of Memphis
Bernard S. Black: Northwestern University
Dimitar Bogoev: EDF Energy London
Santiago Bohorquez Correa: Universidad EAFIT
Oleg Bondarenko: University of Illinois at Chicago
Charles S. Bos: Vrije Universiteit Amsterdam
Ciril Bosch-Rosa: Technische Universität Berlin
Elie Bouri: Lebanese American University
Christian Brownlees: Universitat Pompeu Fabra
Anna Calamia: TBS Education
Viet Nga Cao: Monash University
Gunther Capelle-Blancard: University Paris 1 Pantheon-Sorbonne
Laura M. Capera Romero: Vrije Universiteit Amsterdam
Massimiliano Caporin: University of Padova
Allen Carrion: University of Memphis
Tolga Caskurlu: University of Amsterdam
Bidisha Chakrabarty: Saint Louis University
Jian Chen: Queen's University
Mikhail Chernov: UCLA
William Cheung: Waseda University
Ludwig B. Chincarini: University of San Francisco
Tarun Chordia: Emory University
Sheung Chi Chow: Australian National University
Benjamin Clapham: Goethe University Frankfurt
Jean-Edouard Colliard: HEC Paris
Carole Comerton-Forde: University of Melbourne
Edward Curran: Macquarie University
Thong Dao: Nottingham Trent University
Wale Dare: HEC Liège - University of Liège
Ryan J. Davies: Babson College
Riccardo De Blasis: LUM University
Gianluca F. De Nard: University of Zurich
Fany Declerck: Toulouse 1 Capitole University
Oleg Deev: Masaryk University
Hans Degryse: KU Leuven
Solomon Y. Deku: Nottingham Trent University
Christophe Desagre: UCLouvain
Mathijs A. van Dijk: Erasmus University Rotterdam
Chukwuma Dim: Frankfurt School of Finance and Management
Thomas Dimpfl: University of Hohenheim
Yun Jiang Dong: Queen's University
Philip A. Drummond: Monash University
Tom Dudda: Technische Universität Dresden
Teodor Duevski: HEC Paris
Ariadna Dumitrescu: ESADE Business School, Univ. Ramon Llull
Teodor Dyakov: EDHEC Business School
Anne Haubo Dyhrberg: University of Sydney
Michał Dzieliński: Stockholm University
Asli Eksi: Salisbury University
Izidin El Kalak: Cardiff University
Saskia ter Ellen: Central Bank of Norway
Nicolas Eugster: University of Queensland
Martin D. D. Evans: Georgetown University
Michael Farrell: University of Virginia
Ester Felez-Vinas: University of Technology Sydney
Gerardo Ferrara: Bank of England
El Mehdi Ferrouhi: Ibn Tofail University
Andrea Flori: Politecnico di Milano
Jonathan T. Fluharty: West Virginia University
Sean D. V. Foley: Macquarie University
Kingsley Y. L. Fong: University of New South Wales
Thierry Foucault: HEC Paris
Tatiana Franus: Bayes Business School
Francesco Franzoni: Universitàdella Svizzera italiana
Bart Frijns: Open Universiteit
Michael Frömmel: Ghent University
Servanna M. Fu: University of Essex
Sascha C. Füllbrunn: Radboud University
Baoqing Gan: University of Technology Sydney
Ge Gao: University of Birmingham
Thomas P. Gehrig: University of Vienna
Roland Gemayel: King's College London
Dirk Gerritsen: Utrecht University
Javier Gil-Bazo: Universitat Pompeu Fabra
Dudley Gilder: Cardiff University
Lawrence R. Glosten: Columbia University
Thomas Gomez: Utrecht University
Arseny Gorbenko: Monash University
Joachim Grammig: University of Tübingen
Vincent Grégoire: HEC Montréal
Ufuk Güçbilmez: University of Glasgow
Björn Hagströmer: Stockholm University
Julien Hambuckers: HEC Liège - University of Liège
Jeffrey H. Harris: American University
Lawrence Harris: University of Southern California
Simon Hartmann: Vienna University of Economics and Business
Jean-Baptiste Hasse: Aix-Marseille University
Nikolaus Hautsch: University of Vienna
Xue-Zhong (Tony) He: Xi'an Jiaotong-Liverpool University
Davidson Heath: University of Utah
Simon Hediger: University of Zurich
Terrence Hendershott: UC Berkeley
Ann Marie Hibbert: West Virginia University
Erik Hjalmarsson: University of Gothenburg
Seth Hoelscher: Missouri State University
Peter Hoffmann: European Central Bank
Craig W. Holden: Indiana University
Alex R. Horenstein: University of Miami
Wenqian Huang: Bank for International Settlements
Da Huang: University of Utah
Christophe Hurlin: University of Orléans
Alexey Ivashchenko: Vrije Universiteit Amsterdam
Subramanian R. Iyer: University of New Mexico
Hossein Jahanshahloo: Cardiff University
Naji P. Jalkh: Saint Joseph University
Charles M. Jones: Columbia Business School
Simon Jurkatis: Bank of England
Petri Jylhä: Aalto University
Andreas T. Kaeck: University of Sussex
Gabriel Kaiser: University of Luxembourg
Arzé Karam: Durham University
Egle Karmaziene: Vrije Universiteit Amsterdam
Bernhard Kassner: University of Munich (LMU)
Markku Kaustia: Aalto University
Ekaterina Kazak: University of Manchester
Fearghal Kearney: Queen's University Belfast
Vincent van Kervel: Pontificial University of Chile
Saad A. Khan: HEC Montréal
Marta K. Khomyn: University of Technology Sydney
Tony Klein: Queen's University Belfast
Olga Klein: University of Warwick
Alexander Klos: Kiel University
Michael Koetter: Halle Institute for Economic Research
Aleksey Kolokolov: University of Manchester
Robert A. Korajczyk: Northwestern University
Roman Kozhan: University of Warwick
Jan P. Krahnen: Goethe University Frankfurt
Paul Kuhle: Universidad Autónoma de Madrid
Amy Kwan: University of Sydney
Quentin Lajaunie: Paris Dauphine University
F. Y. Eric C. Lam: Hong Kong Institute for Monetary and Financial Research
Marie Lambert: HEC Liège - University of Liège
Hugues Langlois: HEC Paris
Jens Lausen: Goethe University Frankfurt
Tobias Lauter: Leibniz University Hannover
Markus Leippold: University of Zurich
Vladimir Levin: University of Luxembourg
Yijie Li: SandP Global Ratings
Hui Li: La Trobe University
Chee Yoong Liew: UCSI University
Thomas Lindner: WU Vienna University of Economics and Business
Oliver Linton: University of Cambridge
Jiacheng Liu: Purdue University
Anqi Liu: University of Sydney
Guillermo Llorente: Universidad Autónoma de Madrid
Matthijs Lof: Aalto University
Ariel Lohr: Arizona State University
Francis Longstaff: UCLA
Alejandro Lopez-Lira: University of Florida
Shawn Mankad: Cornell University
Nicola Mano: SFI at USI Lugano
Alexis Marchal: EPFL
Charles Martineau: University of Toronto
Francesco Mazzola: Erasmus University Rotterdam
Debrah Meloso: TBS Education
Michael G. Mi: University of Sydney
Roxana Mihet: SFI at HEC Lausanne
Vijay Mohan: RMIT University
Sophie Moinas: Toulouse 1 Capitole University
David Moore: Loyola Marymount University
Liangyi Mu: The University of Manchester
Dmitriy Muravyev: Michigan State University
Dermot Murphy: University of Illinois at Chicago
Gabor Neszveda: John von Neumann University
Christian Neumeier: Justus-Liebig University
Ulf Nielsson: Copenhagen Business School
Mahendrarajah Nimalendran: University of Florida
Sven Nolte: Radboud University
Lars L. Norden: Stockholm University
Peter W. O'Neill: Financial Conduct Authority
Khaled Obaid: California State University - East Bay
Bernt A. Ødegaard: University of Stavanger
Per Östberg: University of Zurich
Emiliano Pagnotta: Singapore Management University
Marcus Painter: Saint Louis University
Stefan Palan: University of Graz
Imon J. Palit: RMIT University
Andreas Park: University of Toronto Mississauga
Roberto Pascual: University of the Balearic Islands
Paolo Pasquariello: University of Michigan
Lubos Pastor: University of Chicago Booth School of Business
Vinay Patel: University of Technology Sydney
Andrew J. Patton: Duke University
Neil D. Pearson: University of Illinois at Urbana-Champaign
Loriana Pelizzon: Goethe University Frankfurt
Michele Pelli: SFI at University of Zurich
Matthias Pelster: Paderborn University
Christophe Pérignon: HEC Paris
Cameron Pfiffer: University of Oregon
Richard Philip: University of Sydney
Tomáš Plíhal: Masaryk University
Puneet Prakash: Missouri State University
Oliver-Alexander Press: Copenhagen Business School
Tina Prodromou: University of Wollongong
Marcel Prokopczuk: Leibniz University Hannover
Talis Putnins: University of Technology Sydney
Gaurav Raizada: IIM Ahmedabad
David Rakowski: University of Texas at Arlington
Angelo Ranaldo: University of St. Gallen
Luca Regis: University of Torino
Stefan Reitz: Kiel university
Thomas Renault: Université Paris 1 Panthéon-Sorbonne
Rex W. Renjie: Vrije Universiteit Amsterdam
Roberto Reno: University of Verona
Steven J. Riddiough: University of Toronto
Kalle Rinne: University of Luxembourg
Paul J. Rintamäki: Aalto University
Ryan Riordan: Queen's University
Thomas Rittmannsberger: University of Innsbruck
Iñaki Rodríguez Longarela: Stockholm University
Dominik Roesch: State University of New York at Buffalo
Lavinia Rognone: University of Manchester
Brian Roseman: Oklahoma State University
Ioanid Rosu: HEC Paris
Saurabh Roy: University of Massachusetts, Amherst
Nicolas Rudolf: University of Lausanne
Stephen R. Rush: Bowling Green State University
Khaladdin Rzayev: University of Edinburgh
Aleksandra A. Rzeźnik: York University
Anthony Sanford: University of Maryland
Harikumar Sankaran: New Mexico state University
Asani Sarkar: Federal Reserve Bank of New York
Lucio Sarno: University of Cambridge
Olivier Scaillet: SFI at University of Geneva
Stefan Scharnowski: University of Mannheim
Klaus R. Schenk-Hoppé: University of Manchester
Andrea Schertler: University of Graz
Michael Schneider: Deutsche Bundesbank
Florian Schroeder: Macquarie University
Norman Schürhoff: SFI at University of Lausanne
Philipp Schuster: University of Stuttgart
Marco A. Schwarz: Düsseldorf Institute for Competition Economics
Mark S. Seasholes: Arizona State University
Norman J. Seeger: Vrije Universiteit Amsterdam
Or Shachar: Federal Reserve Bank of New York
Andriy Shkilko: Wilfrid Laurier University
Jessica Shui: Federal Housing Finance Agency
Mario Sikic: University of Zurich
Giorgia Simion: WU Vienna University of Economics and Business
Lee A. Smales: University of Western Australia
Paul Söderlind: University of St. Gallen
Elvira Sojli: University of New South Wales
Konstantin Sokolov: University of Memphis
Jantje Sönksen: University of Tübingen
Laima Spokeviciute: Cardiff University
Denitsa Stefanova: University of Luxembourg
Marti G. Subrahmanyam: NYU Stern
Barnabas Szaszi: ELTE, Eotvos Lorand University
Oleksandr Talavera: University of Birmingham
Yuehua Tang: University of Florida
Nick Taylor: University of Bristol
Wing Wah Tham: University of New South Wales
Erik Theissen: University of Mannheim
Julian Thimme: Karlsruhe Institute of Technology
Ian Tonks: University of Bristol
Hai Tran: Loyola Marymount University
Luca Trapin: University of Bologna
Anders B. Trolle: Copenhagen Business School
M. Andreea Vaduva: Universidad Carlos III de Madrid
Giorgio Valente: Hong Kong Monetary Authority
Robert A. Van Ness: University of Mississippi
Aurelio Vasquez: ITAM
Thanos Verousis: University of Essex
Patrick Verwijmeren: Erasmus University Rotterdam
Anders Vilhelmsson: Department of Economics, Lund University, Postal: School of Economics and Management, Box 7080, S-220 07 Lund, Sweden
Grigory Vilkov: Frankfurt School of Finance and Management
Vladimir Vladimirov: University of Amsterdam
Sebastian Vogel: Erasmus University Rotterdam
Stefan Voigt: University of København
Wolf Wagner: Erasmus University Rotterdam
Thomas Walther: Utrecht University
Patrick Weiss: Vienna Graduate School of Finance
Michel van der Wel: Erasmus University Rotterdam
Ingrid M. Werner: The Ohio State University
Joakim Westerholm: University of Sydney
Christian Westheide: University of Vienna
Hans C. Wika: Norges Bank
Evert Wipplinger: Vrije Universiteit Amsterdam
Michael Wolf: University of Zurich
Christian C. P. Wolff: University of Luxembourg
Leonard Wolk: Vrije Universiteit Amsterdam
Wing-Keung Wong: Asia University
Jan Wrampelmeyer: Vrije Universiteit Amsterdam
Zhen-Xing Wu: Zhongnan University of Economics and Law
Shuo Xia: Halle Institute for Economic Research
Dacheng Xiu: University of Chicago Booth School of Business
Ke Xu: University of Victoria
Caihong Xu: Stockholm University
Pradeep K. Yadav: University of Oklahoma
José Yagüe: University of Murcia
Cheng Yan: University of Essex
Antti Yang: Erasmus University Rotterdam
Woongsun Yoo: Central Michigan University
Wenjia Yu: Aalto University
Yihe Yu: University at Buffalo
Shihao Yu: Vrije Universiteit Amsterdam
Bart Z. Yueshen: INSEAD
Darya Yuferova: Norwegian School of Economics (NHH)
Marcin Zamojski: University of Gothenburg
Abalfazl Zareei: Stockholm University
Stefan M. Zeisberger: Radboud University
Lu Zhang: University of Luxembourg
S. Sarah Zhang: University of Manchester
Xiaoyu Zhang: Vrije Universiteit Amsterdam
Lu Zhao: Southwestern University of Finance and Economics
Zhuo Zhong: University of Melbourne
Zeyang (Ivy) Zhou: University of Wollongong
Chen Zhou: Erasmus University Rotterdam
Xingyu S. Zhu: Stockholm School of Economics
Marius Zoican: University of Toronto Mississauga
Remco Zwinkels: Vrije Universiteit Amsterdam