Gur Huberman pointed me to this paper by George Akerlof and Pascal Michaillat that gives an institutional model for the persistence of false belief. The article begins: This paper develops a theory of promotion based on evaluations by the already promoted. The already promoted show some favoritism toward candidates for promotion with similar beliefs, just […] The post The Trumpets of Lilliput appeared first on Statistical Modeling, Causal Inference, and…