Monday, May 15, 2017

Replicability and credibility of scientific research as a challenge to market design

A recent issue of PLOS Biology carries a call for some market design:

The credibility crisis in research: Can economics tools help?
Thomas Gall, John P. A. Ioannidis, Zacharias Maniadis
Published: April 26, 2017

Abstract: The issue of nonreplicable evidence has attracted considerable attention across biomedical and other sciences. This concern is accompanied by an increasing interest in reforming research incentives and practices. How to optimally perform these reforms is a scientific problem in itself, and economics has several scientific methods that can help evaluate research reforms. Here, we review these methods and show their potential. Prominent among them are mathematical modeling and laboratory experiments that constitute affordable ways to approximate the effects of policies with wide-ranging implications.

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