what do they use
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As a very trivial example, regularized linear regression instead of linear regression?
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I think you're overstating your case. P-hacking is bad, p-values are fine if you're not optimizing for them
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So who that gets paid real money for correct answers, uses p-values? Which hedge fund? What weather forecasting company?
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Bridgewater Assoc, where I worked for years. Quite successful hedge fund. Sometimes used p-values w bonferroni etc.
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I'd love to hear what you mean by this.
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which some will interpret as a case against such professions - others, against academic statistics (applied to real systems)
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2. In markets/finance, relationships are usually heteroscedastic which makes a lot of rigor too time consuming anyway
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no they are even http://worse.You have obviously not worked in business.
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Really? statisticians in my lab do occasional contract work for finance firms and don't mention doing analysis differently.
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which academic papers? Particle physics? Psychology?
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yes, moar elaborates
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1. You don't need academic rigor to make useful models of real world phenomena.
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In medicine 95% of "research" is BS statistically speaking but it's better than nothing and employs a lot of people.
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is there an example you are thinking of?
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Elaborate.
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