The Impact of Peer Review on Science Today

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In the old days you had bolder risk takers. There weren't many journals and the extent that they were journals, they were very different. I don't know if we can go back and put that genie back in the bottle, given the modern world of academic life. My dream is to build an alternative research institution that can do things differently. And I want to be one of the people doing them that way.

Psychologist Adam Mastroianni says peer review has failed. Papers with major errors make it through the process. The ones without errors often fail to replicate. One approach to improve the process is better incentives. But Mastroianni argues that peer review isn't fixable. It's a failed experiment. Listen as he makes the case to EconTalk host Russ Roberts for a new approach to science and academic research.