“We saw that the bias in psychological research is in favour of publishing exciting results. An exciting result in psychology is one that tells us that something has a large effect on people’s behavior. And the things that the studies that have failed to replicate have found to have large effects on people’s behavior are not necessarily things that ought to affect people’s behaviour, were those people rational. “
Read MoreIn a complex society we must depend on experts; but we also depend on the proper functions of markets where experts compete. The problem is not lack of respect for expertise, but the understanding of the proper role of experts, and the false confidence in expertise in areas of our existence that defy expertise. Scientific reasoning does not apply to areas of humanity that requires moral judgment and social and economic tradeoffs, where there is not a single truth to be unveiled. Without a competition of ideas, progress and improvement are stifled.
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