Paula E

March 2003

Paula E. Stephan †

The Economics of Science

Journal of Economic Literature

Volume 34, Issue 3

Sept. 1996, 1199-1235.

Index

1. Introduction

2. The Public Nature of Knowledge and the Reward Structure of Science

A. The Reward Structure of Science: The Importance of Priority

B. The Reward Structure of Science: Financial Remuneration and

the Satisfaction Derived from Puzzle Solving

3. Inequality in Science

4. The Choice of Scientific Contests

5. Efficiency Considerations

A. The Functional Nature of the Reward System

B. Are There Too Many Contestants in Certain Contests?

C. The Incentive to Share Knowledge in a Timely Fashion

6. Scientists in Industry

A. A Description of Scientific Labor Markets

B. Studies of the Supply and Demand for New Entrants to Science

C. Forecasting Scientific Labor Markets

8. Life-cycle Models

A. Empirical Studies of Research Activity

B. Empirical Studies of the Acceptance of New Ideas

C. Empirical Studies of Earnings Functions

D. Does the Human Capital Model Come Up Short?

9. The Production of Scientific Knowledge

A. Time and Cognitive Inputs

B. Research Resources

C. An Alternative Approach to the Study of Scientists

10. Funding Regimes

11. Science, Productivity, and the New Growth Economics

12. Conclusion

March 2003