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Could Economic Incentive Reduce Efficiency in Academia?

Author

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  • Kausik Gangopadhyay

    (Indian Institute of Management Kozhikode)

Abstract

The typical policy understanding dictates that academic output could be increased through economic incentive to the researchers. While this is factual, but the larger problem is about the quality of the academic output produced. A lot of academic outputs are and will remain unverifiable in the strict objective sense of the term, but they are false and could be harmful for society as well. The best person to understand this is the researcher who has produced the academic but, understandably, could have no incentive to detect falsity. This paper considers an academic who derives joy from creation of knowledge. The academic could produce pseudo-knowledge, otherwise indistinguishable from knowledge in terms of output, but takes joy away in the process of its production. The paper demonstrates that economic incentives completely fail to boost knowledge production but ends up diminishing knowledge output.

Suggested Citation

  • Kausik Gangopadhyay, 2024. "Could Economic Incentive Reduce Efficiency in Academia?," Working papers 593, Indian Institute of Management Kozhikode.
    • Handle: RePEc:iik:wpaper:593
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