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On the Matthew effect in research careers

Author

Listed:
  • Feichtinger, Gustav
  • Grass, Dieter
  • Kort, Peter M.
  • Seidl, Andrea

Abstract

The observation that a socioeconomic agent with a high reputation gets a disproportionately higher recognition for the same work than an agent with lower reputation is typical in career development and wealth. This phenomenon, which is known as Matthew effect in the literature, leads to an increasing inequality over time. The present paper employs an optimal control model to study the implications of the Matthew effect on the optimal efforts of a scientist into reputation.

Suggested Citation

  • Feichtinger, Gustav & Grass, Dieter & Kort, Peter M. & Seidl, Andrea, 2021. "On the Matthew effect in research careers," Journal of Economic Dynamics and Control, Elsevier, vol. 123(C).
    • Handle: RePEc:eee:dyncon:v:123:y:2021:i:c:s0165188920302268
    DOI: 10.1016/j.jedc.2020.104058
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    References listed on IDEAS

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    Cited by:

    1. Yegorov, Yury & Wirl, Franz & Grass, Dieter & Eigruber, Markus & Feichtinger, Gustav, 2022. "On the matthew effect on individual investments in skills in arts, sports and science," Journal of Economic Behavior & Organization, Elsevier, vol. 196(C), pages 178-199.
    2. Frost, Jon & Gambacorta, Leonardo & Gambacorta, Romina, 2022. "On the nexus between wealth inequality, financial development and financial technology," Journal of Economic Behavior & Organization, Elsevier, vol. 202(C), pages 429-451.

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    More about this item

    Keywords

    Optimal control; History-dependent solution; Abnormal solution; Career planning; Matthew effect;
    All these keywords.

    JEL classification:

    • C61 - Mathematical and Quantitative Methods - - Mathematical Methods; Programming Models; Mathematical and Simulation Modeling - - - Optimization Techniques; Programming Models; Dynamic Analysis
    • J71 - Labor and Demographic Economics - - Labor Discrimination - - - Hiring and Firing

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