Could Lowering the P-Value Threshold Benefit Research?

The probability value, commonly known as the p-value, has been used for decades to test the significance of researchers' findings. A small p-value (typically ≤ 0.05) indicates a statistically significant result. The American Statistical Association is recommending the value be lowered to 0.005, which would reduce the number of false positives. Why is this being revisited, and what other implications could this lead to?  


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