NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH
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A Model of Scientific Communication

Isaiah Andrews, Jesse M. Shapiro

NBER Working Paper No. 26824
Issued in March 2020
NBER Program(s):Technical Working Papers

We propose a model of empirical science in which an analyst makes a report to an audience after observing some data. Agents in the audience may differ in their beliefs or objectives, and may therefore update or act differently following a given report. We contrast the proposed model with a classical model of statistics in which the estimate directly determines the payoff. We identify settings in which the proposed model prescribes very different, and more realistic, optimal rules.

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Document Object Identifier (DOI): 10.3386/w26824

 
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