On the tradeoff between similarity and diversity in the creation of novelty in basic science
What is the impact of institutional frames on knowledge diversity in basic science? Institutional frames such as the peer-review process in academia influence the way knowledge is created. This also concerns knowledge diversity as well as knowledge similarity. Similar research activities tend to generate related knowledge, reduce the costs of its economic exploitation while increasing the costs of duplicate research; a high degree of knowledge diversity impedes its prompt economic exploitation but enhances long-term economic growth. A simple model substantiates this tradeoff and serves as the basis for a general reflection on institutional frames in basic science. A Monte–Carlo simulation delivers structural equilibria subject to knowledge overlaps among researchers induced by institutional frames.
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Thomas Grebel, 2012. "Network evolution in basic science," Journal of Evolutionary Economics, Springer, vol. 22(3), pages 443-457, July.
- Gary B. Magee, 2002.
"Rethinking Invention: Cognition and the Economics of Technological Creativity,"
Department of Economics - Working Papers Series
861, The University of Melbourne.
- Magee, Gary B., 2005. "Rethinking invention: cognition and the economics of technological creativity," Journal of Economic Behavior & Organization, Elsevier, vol. 57(1), pages 29-48, May.
- Kurt Dopfer & John Foster & Jason Potts, 2004. "Micro-meso-macro," Journal of Evolutionary Economics, Springer, vol. 14(3), pages 263-279, 07.
- Granstrand, Ove, 1998. "Towards a theory of the technology-based firm1," Research Policy, Elsevier, vol. 27(5), pages 465-489, September.
- Dasgupta, Partha & Stiglitz, Joseph, 1980. "Industrial Structure and the Nature of Innovative Activity," Economic Journal, Royal Economic Society, vol. 90(358), pages 266-93, June.
- Tuckman, Howard P & Leahey, Jack, 1975. "What Is an Article Worth?," Journal of Political Economy, University of Chicago Press, vol. 83(5), pages 951-67, October.
- Lionel Nesta & Pier-Paolo Saviotti, 2006. "Firm knowledge and market value in biotechnology," Industrial and Corporate Change, Oxford University Press, vol. 15(4), pages 625-652, August.
- Arthur M. Diamond Jr., 1986. "What is a Citation Worth?," Journal of Human Resources, University of Wisconsin Press, vol. 21(2), pages 200-215.
- Witt, Ulrich, 2009. "Propositions about novelty," Journal of Economic Behavior & Organization, Elsevier, vol. 70(1-2), pages 311-320, May.
- Dixit, Avinash K & Stiglitz, Joseph E, 1975.
"Monopolistic Competition and Optimum Product Diversity,"
The Warwick Economics Research Paper Series (TWERPS)
64, University of Warwick, Department of Economics.
- Dixit, Avinash K & Stiglitz, Joseph E, 1977. "Monopolistic Competition and Optimum Product Diversity," American Economic Review, American Economic Association, vol. 67(3), pages 297-308, June.
- Rosenberg, Nathan, 1990. "Why do firms do basic research (with their own money)?," Research Policy, Elsevier, vol. 19(2), pages 165-174, April.
- Pavitt, Keith, 1998. "Technologies, Products and Organization in the Innovating Firm: What Adam Smith Tells Us and Joseph Schumpeter Doesn't," Industrial and Corporate Change, Oxford University Press, vol. 7(3), pages 433-52, September.
- Breschi, Stefano & Lissoni, Francesco & Malerba, Franco, 2003. "Knowledge-relatedness in firm technological diversification," Research Policy, Elsevier, vol. 32(1), pages 69-87, January.
- Grebel, Thomas, 2009. "Technological change: A microeconomic approach to the creation of knowledge," Structural Change and Economic Dynamics, Elsevier, vol. 20(4), pages 301-312, December.
- Hodgson, Geoffrey M. & Knudsen, Thorbjorn, 2006. "Why we need a generalized Darwinism, and why generalized Darwinism is not enough," Journal of Economic Behavior & Organization, Elsevier, vol. 61(1), pages 1-19, September.
- Kenneth Arrow, 1962. "Economic Welfare and the Allocation of Resources for Invention," NBER Chapters, in: The Rate and Direction of Inventive Activity: Economic and Social Factors, pages 609-626 National Bureau of Economic Research, Inc.
- Jiandong Ju, 2003. "Oligopolistic Competition, Technology Innovation, and Multiproduct Firms," Review of International Economics, Wiley Blackwell, vol. 11(2), pages 346-359, 05.
- Richard R. Nelson, 1959. "The Simple Economics of Basic Scientific Research," Journal of Political Economy, University of Chicago Press, vol. 67, pages 297.
- Weitzman, Martin L, 1996. "Hybridizing Growth Theory," American Economic Review, American Economic Association, vol. 86(2), pages 207-12, May.
- Partha, Dasgupta & David, Paul A., 1994. "Toward a new economics of science," Research Policy, Elsevier, vol. 23(5), pages 487-521, September.
When requesting a correction, please mention this item's handle: RePEc:eee:streco:v:27:y:2013:i:c:p:66-78. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Zhang, Lei)
If references are entirely missing, you can add them using this form.