http://en.wikipedia.org/wiki/Peer_review
"Pragmatically, peer review refers to the work done during the screening of submitted manuscripts and funding applications. This process encourages authors to meet the accepted standards of their discipline and prevents the dissemination of irrelevant findings, unwarranted claims, unacceptable interpretations, and personal views. Publications that have not undergone peer review are likely to be regarded with suspicion by scholars and professionals.
..."Therefore, showing work to others increases the probability that weaknesses will be identified and improved.
..."As a result, significant scandal ensues when an author is found to have falsified the research included in an article, as many other scholars, and the field of study itself, may have relied upon the original research
..."Most recommendations are along the lines of the following:
- to unconditionally accept the manuscript or proposal,
- to accept it in the event that its authors improve it in certain ways,
- to reject it, but encourage revision and invite resubmission,
- to reject it outright.
..."There is usually no requirement that the referees achieve consensus. Thus the group dynamics are substantially different from that of a jury."