peer review and the economy

Specification:  The role of peer review in the scientific process. The implications of psychological research for the economy.

The role of peer review in the scientific process

Peer review is an independent assessment process that takes place before a research study is published and is undertaken by other experts in the same field of psychology. All psychologists must be prepared for their work to be scrutinised in this way which is conducted anonymously. There are several aims of the peer review process:

 

Exam Hint: An easy way to remember the five key points of peer review is using the following phrase:

PEER – Provide recommendations about whether the research should be published or not, or whether it needs revision.

VIEWS – A way to check validity of research.

ARE – Assess the appropriateness of the procedure and methodology.

SO – Judge the significance of the research to wider context (human behaviour).

OVERRATED – Assess the work’s originality and ensure that other relevant research is detailed.

Evaluation of peer reviews

There are drawbacks associated with the peer review process. Since the peer reviewers are often anonymous in their reporting on the academic research, there is a possibility that they will use this fact as a means to criticise rivals in their field of psychology. This is perpetuated by the fact that there tends to be limited funding for new research so the element of competition could bread jealousy amongst researchers. As a result, inaccurate or unfair criticism may be received following the peer review process which is not a valid reflection of the quality of the research.

 

An issue with the use of peer review is that it is sometimes difficult to find a suitable peer. This is especially true when conducting psychological research on a new or groundbreaking topic. A possible consequence of this is that research which is not of high quality will be passed as suitable for publication as the researcher did not fully comprehend the aims or content. Conversely, results may be published which preserves the status quo by supporting existing theories more readily than more unconventional research might, resulting in a positive publication bias.

 

Although peer review is not without its faults, there are merits to conducting the process on psychological research. In particular, the process helps to prevent any substandard research from entering the mainstream which serves to protect the reputation of the discipline. Likewise, as experts within the field often act as peers, there is less opportunity for plagiarized work or duplications of research to be published. This means that the journals who publish the work will be trusted for the articles that they disseminate.

The implications of psychological research for the economy

In general, the economy is concerned with how members of society produce, share and consume goods and services. Implications refer to the ability to interpret findings in terms their value, strengths and weaknesses for achieving success. Sometimes, reviewing psychological knowledge in the context of the economy can help portray a clearer picture of how people’s behaviour is affected, in positive or negative ways, in the real world.

 

Psychological interventions and research often have farreaching effects that are not readily quantifiable. For example, psychological interventions used to treat mental illness could enable someone to recommence work after a period of absence. Additionally, in the longterm, successful treatments may help the individual be less likely to relapse. Therefore, the psychological research into psychopathology has implications for the economy in terms of increasing lost tax revenues through salary contributions and limiting costs to the Government through reducing the need for incapacity benefits.

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