Boundary conditions for the practical importance of small effects in long runs: a comment on Funder and Ozer (2019)

Funder and Ozer (2019) argued that small effects can have important implications in cumulative long-run scenarios. We certainly agree. However, some important caveats merit explicit consideration. We elaborate on the previously acknowledged importance of preregistration (and open-data practices) and identify two additional considerations for interpreting small effects in long-run scenarios: restricted extrapolation and construct validity