2021/01/01 by Isaiah Andrews, Jesse M. Shapiro · 2 citations
Physics and Astronomy · Decision Sciences · Economics, Econometrics and Finance · #Opinion Dynamics and Social Influence #Game Theory and Applications #Complex Systems and Time Series Analysis
paper · doi:10.3982/ecta18155
We propose a positive 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 report directly determines the payoff. We identify settings in which the predictions of the proposed model differ from those of the classical model, and seem to better match practice.