Prizes and Productivity- How Winning the Fields Medal Affects Scientific Output
AbstractKnowledge generation is key to economic growth, and scientific prizes are designed to encourage it. But how does winning a prestigious prize affect future output? We compare the productivity of Fields medalists (winners of the top mathematics prize) to that of similarly brilliant contenders. The two groups have similar publication rates until the award year, after which the winners’ productivity declines. The medalists begin to “play the field,” studying unfamiliar topics at the expense of writing papers. It appears that tournaments can have large post-prize effects on the effort allocation of knowledge producers.
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Bibliographic InfoPaper provided by University of Notre Dame, Department of Economics in its series Working Papers with number 022.
Length: 47 pages
Date of creation: Aug 2013
Date of revision: Aug 2013
Knoweledge; Productivity; Prizes;
Other versions of this item:
- George J. Borjas & Kirk B. Doran, 2013. "Prizes and Productivity: How Winning the Fields Medal Affects Scientific Output," NBER Working Papers 19445, National Bureau of Economic Research, Inc.
- O31 - Economic Development, Technological Change, and Growth - - Technological Change; Research and Development; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- J22 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Time Allocation and Labor Supply
This paper has been announced in the following NEP Reports:
- NEP-ALL-2013-09-06 (All new papers)
- NEP-EFF-2013-09-06 (Efficiency & Productivity)
- NEP-HRM-2013-09-06 (Human Capital & Human Resource Management)
- NEP-SOG-2013-09-06 (Sociology of Economics)
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