Martin Paldam

TY - UNPB

T1 - The rational economist in research: A model

AU - Paldam, Martin

PY - 2015/9/1

Y1 - 2015/9/1

N2 - Econ is an economist who behaves as predicted by economic theory. His research for a paper reporting the ‘best’ estimate of an important parameter is modeled. The size of his search is determined from the costs and benefits of running regressions. The size determines the relevant supply side as the production possibility frontier. The demand side is the indifference curves generated where Econ’s preferences meet the market in the form of sponsors, referees and editors. The optimal selection appears as usual. It is shown that it is better than the true one, and that the bias has substantial inertia.

AB - Econ is an economist who behaves as predicted by economic theory. His research for a paper reporting the ‘best’ estimate of an important parameter is modeled. The size of his search is determined from the costs and benefits of running regressions. The size determines the relevant supply side as the production possibility frontier. The demand side is the indifference curves generated where Econ’s preferences meet the market in the form of sponsors, referees and editors. The optimal selection appears as usual. It is shown that it is better than the true one, and that the bias has substantial inertia.

KW - Rational economist, publication bias

M3 - Working paper

T3 - Economics Working Papers

BT - The rational economist in research: A model

PB - Institut for Økonomi, Aarhus Universitet

CY - Aarhus

ER -