Stagnation and Scientific Incentives

NBER Working Paper No. 26752 Issued in February 2020 NBER Program(s):Health Economics Program, Productivity, Innovation, and Entrepreneurship Program New ideas no longer fuel economic growth the way they once did. A popular explanation for stagnation is that good ideas are harder to find, rendering slowdown inevitable. We present a simple model of the lifecycle of scientific ideas that points to changes in scientist incentives as the cause of scientific stagnation. Over the last five decades,

4 mentions: @MattGrossmann@doomie@ketchman@Clay1016
Date: 2020/02/20 17:20

Referring Tweets

@MattGrossmann This emphasis on citations in scientific productivity shifted scientist rewards & behavior toward incremental science & away from exploratory projects that are more likely to fail; as attention to new ideas decreased, science stagnated #SocSciResearch t.co/XFK23bVI26
@doomie "Stagnation and Scientific Incentives" by Jay Bhattacharya and Mikko Packalen is the paper (t.co/wuJ3q2wmkE). It's a long, relatively easy and thought-provoking read.
@ketchman @C_Garthwaite explains that just as water runs downhill, capital seeks returns. His paper shows mostly entry into existing therapeutic classes. Left out is the point that this drives even on-patent prices downward. Also, this isn't health care specific: t.co/PaWxTH72CZ t.co/VwaLYEn91Y

Related Entries

Read more AI Foundation - Research Scientist (NLP)
0 users, 1 mentions 2020/02/10 20:21
Read more CS 165
0 users, 1 mentions 2020/04/12 02:21
Read more Alvaro Sanchez Gonzalez | Hamiltonian Graph Networks with ODE Integrators · SlidesLive
0 users, 1 mentions 2020/10/09 08:21
Read more How Well Can an AI Learn Physics? ⚛ - YouTube
0 users, 1 mentions 2020/10/09 08:21
Read more Deep Learning for Coders with fastai and PyTorch: AI Applications Without a PhD: Amazon.es: Gugger, ...
0 users, 1 mentions 2020/10/16 12:53