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Fund people, not projects IV: Scientific egalitarianism and lotteries

José Luis Ricón · 20 Jan 2021 · nintil.com

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  1. I have reviewed before the effectiveness of peer review at figuring out "what's good" in the context of grant awards, finding that peer review as currently practiced does substantially better than chance at predicting future impact, especially for the most impactful of the papers; but at the same time is is far from perfect, leaving plenty of variance unexplained.
  2. The way I see this is that reviewers can identify what's obviously not great and what is obviously great (Perhaps identifying the latter is easier than the former). But there is a "messy middle" where it is unclear what to fund.
  3. The cost of peer review is largely dominated by applying for grants, not peer reviewing.