Effect size


We conduct a study of how prior experience of failure affects the future performance of firms. We have 3 different variables for failure experience, one for minor failures experience, another one for medium failure and a third one for major failure. Following what is customary in the literature we apply different discount factors to each of the variables (as recent experience will not have the same impact on performance than distant experience). One reviewer is suggesting that having different discount factors does not allow for comparing effect sizes of the experience variables and that we should use the same discount to all our variables. This theoretically does not make much sense, as big failure experience will depreciate slower than minor failure experience. The obvious answer to me is that we obviously can compare the effect sizes of these variables with their different discount factors. To me the answer seems so obvious that made me a bit concern about whether I am missing something. Any ideas on how to answer this query?