A Model of Scientific Communication
Isaiah Andrews and
Jesse Shapiro ()
No 26824, NBER Working Papers from National Bureau of Economic Research, Inc
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.
JEL-codes: C18 (search for similar items in EconPapers)
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