Index Investing News
Saturday, May 30, 2026
No Result
View All Result
  • Login
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion
No Result
View All Result
Index Investing News
No Result
View All Result

The Costs and Benefits of Peer Review

by Index Investing News
January 26, 2023
in Economy
Reading Time: 4 mins read
A A
0
Home Economy
Share on FacebookShare on Twitter


Biologist Paul Ehrlich’s recent appearance on 60 Minutes drew an immediate response, with a deluge of denunciations of his decades spent peddling baseless scare stories. Ehrlich responded, Tweeting:

If I’m always wrong so is science, since my work is always peer-reviewed, including the POPULATION BOMB and I’ve gotten virtually every scientific honor.

Erlich’s invocation of ‘peer review’ is notable. Notice how he conflates this process with the practice of science itself.

But Ehrlich is wrong. As Adam Mastroianni, a postdoctoral researcher at Columbia Business School, noted in a recent article, peer review – where “we have someone check every paper and reject the ones that don’t pass muster” – is only about 60 years old:

From antiquity to modernity, scientists wrote letters and circulated monographs, and the main barriers stopping them from communicating their findings were the cost of paper, postage, or a printing press, or on rare occasions, the cost of a visit from the Catholic Church. Scientific journals appeared in the 1600s, but they operated more like magazines or newsletters, and their processes of picking articles ranged from “we print whatever we get” to “the editor asks his friend what he thinks” to “the whole society votes.” Sometimes journals couldn’t get enough papers to publish, so editors had to go around begging their friends to submit manuscripts, or fill the space themselves. Scientific publishing remained a hodgepodge for centuries.

(Only one of Einstein’s papers was ever peer-reviewed, by the way, and he was so surprised and upset that he published his paper in a different journal instead.)

Peer review’s supposed benefit is “catch[ing] bad research and prevent[ing] it from being published.” But, Mastroianni notes:

It doesn’t. Scientists have run studies where they deliberately add errors to papers, send them out to reviewers, and simply count how many errors the reviewers catch. Reviewers are pretty awful at this. In this study reviewers caught 30% of the major flaws, in this study they caught 25%, and in this study they caught 29%. These were critical issues, like “the paper claims to be a randomized controlled trial but it isn’t” and “when you look at the graphs, it’s pretty clear there’s no effect” and “the authors draw conclusions that are totally unsupported by the data.” Reviewers mostly didn’t notice.

The Population Bomb belongs on the list of peer reviewed junk science.

And there are costs to the process:

By one estimate, scientists collectively spend 15,000 years reviewing papers every year. It can take months or years for a paper to wind its way through the review system…And universities fork over millions for access to peer-reviewed journals, even though much of the research is taxpayer-funded, and none of that money goes to the authors or the reviewers.

Huge interventions should have huge effects…if peer review improved science, that should be pretty obvious, and we should be pretty upset and embarrassed if it didn’t.

It didn’t. In all sorts of different fields, research productivity has been flat or declining for decades, and peer review doesn’t seem to have changed that trend. New ideas are failing to displace older ones. Many peer-reviewed findings don’t replicate, and most of them may be straight-up false. When you ask scientists to rate 20th century discoveries in physics, medicine, and chemistry that won Nobel Prizes, they say the ones that came out before peer review are just as good or even better than the ones that came out afterward. In fact, you can’t even ask them to rate the Nobel Prize-winning discoveries from the 1990s and 2000s because there aren’t enough of them.

A recent article in Nature is titled ‘‘Disruptive’ science has declined — and no one knows why,’ but Mastroianni may be giving us at least some of the answer:

The invention of peer review may have even encouraged bad research. If you try to publish a paper showing that, say, watching puppy videos makes people donate more to charity, and Reviewer 2 says “I will only be impressed if this works for cat videos as well,” you are under extreme pressure to make a cat video study work. Maybe you fudge the numbers a bit, or toss out a few outliers, or test a bunch of cat videos until you find one that works and then you never mention the ones that didn’t. 🎶 Do a little fraud // get a paper published // get down tonight 🎶

Researchers are as responsive to incentives as anyone. The peer review process incentivizes ‘gaming’, with people looking to satisfy reviewers and run up their publications rather than break new ground. The costs of peer review, it seems, do not outweigh the benefits. It ought not be a straightjacket for new research nor a shield for charlatans like Ehrlich.





Source link

Tags: BenefitsCostsPeerReview
ShareTweetShareShare
Previous Post

XRP Lawsuit: Here’s The Latest Update On SEC Vs. Ripple Case

Next Post

Fourth-quarter 2022 GDP: What economists are expecting

Related Posts

Transcript: Vimal Kapur, Chairman and CEO of Honeywell

Transcript: Vimal Kapur, Chairman and CEO of Honeywell

by Index Investing News
May 27, 2026
0

https://www.youtube.com/watch?v=sVqE7bsmtA0https://www.youtube.com/watch?v=sVqE7bsmtA0     The transcript from this week’s MiB: Vimal Kapur, Chairman and CEO of Honeywell, is below. You can...

Development by Consent – Econlib

Development by Consent – Econlib

by Index Investing News
May 23, 2026
0

March 2026 marked the 250th anniversary of the publication of An Inquiry into the Nature and Causes of the Wealth...

Transcript: Shelia Bair, former FDIC Chair

Transcript: Shelia Bair, former FDIC Chair

by Index Investing News
May 19, 2026
0

https://www.youtube.com/watch?v=Y-mjUH1lHg4https://www.youtube.com/watch?v=Y-mjUH1lHg4     The transcript from this week’s, MiB: Shelia Bair, former FDIC Chair, is below. You can stream and...

AI and Comparative Advantage – Econlib

AI and Comparative Advantage – Econlib

by Index Investing News
May 15, 2026
0

It was a fact universally acknowledged that a young man or woman in 1800s Lancashire could find gainful employment as...

Transcript: Howard Lindzon, Social Leverage

Transcript: Howard Lindzon, Social Leverage

by Index Investing News
May 11, 2026
0

https://www.youtube.com/watch?v=Q12PYx1e-eohttps://www.youtube.com/watch?v=Q12PYx1e-eo     The transcript from this week’s MiB Howard Lindzon, Social Leverage, is below. You can stream and download...

Next Post
Fourth-quarter 2022 GDP: What economists are expecting

Fourth-quarter 2022 GDP: What economists are expecting

‘James At 15’, ‘Salem’s Lot’ Actor Was 62 – Deadline

‘James At 15’, ‘Salem’s Lot’ Actor Was 62 – Deadline

RECOMMENDED

Trump judge in NY fraud case slams credibility of paid defense expert

Trump judge in NY fraud case slams credibility of paid defense expert

December 30, 2023
WWE Followers Speculate On DIY’s Subsequent Transfer After SmackDown

WWE Followers Speculate On DIY’s Subsequent Transfer After SmackDown

April 29, 2025
Wall St cautiously optimistic as easing inflation lifts hopes of smaller rate hike By Reuters

Wall St cautiously optimistic as easing inflation lifts hopes of smaller rate hike By Reuters

December 13, 2022
Tampa Bay Buccaneers @ New Orleans Saints: Tom Brady and Michael Thomas among the six reasons to watch NFC South clash | NFL News

Tampa Bay Buccaneers @ New Orleans Saints: Tom Brady and Michael Thomas among the six reasons to watch NFC South clash | NFL News

September 18, 2022
Biden administration wants Congress to mandate flight delay compensation By Reuters

Biden administration wants Congress to mandate flight delay compensation By Reuters

June 9, 2023
Italy investigating two firms over noncompliant components equipped to Boeing contractor

Italy investigating two firms over noncompliant components equipped to Boeing contractor

October 6, 2024
In Northern Ireland, a Couple Grapples With Renovating a Run-down Victorian

In Northern Ireland, a Couple Grapples With Renovating a Run-down Victorian

December 26, 2023
‘Sonic 2’ opening weekend might sign return of households to cinemas

‘Sonic 2’ opening weekend might sign return of households to cinemas

April 8, 2022
Index Investing News

Get the latest news and follow the coverage of Investing, World News, Stocks, Market Analysis, Business & Financial News, and more from the top trusted sources.

  • 1717575246.7
  • Browse the latest news about investing and more
  • Contact us
  • Cookie Privacy Policy
  • Disclaimer
  • DMCA
  • Privacy Policy
  • Terms and Conditions
  • xtw18387b488

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

No Result
View All Result
  • Home
  • World
  • Investing
  • Financial
  • Economy
  • Markets
  • Stocks
  • Crypto
  • Property
  • Sport
  • Entertainment
  • Opinion

Copyright © 2022 - Index Investing News.
Index Investing News is not responsible for the content of external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In