Department of Economics and Business Economics

The rational economist in research: A model

Research output: Working paperResearch


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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.
Original languageEnglish
Place of publicationAarhus
PublisherInstitut for Økonomi, Aarhus Universitet
Number of pages18
Publication statusPublished - 1 Sep 2015
SeriesEconomics Working Papers

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