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Product Quality in a Simple OLG Model of Scientific Competition

Author

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  • Max Albert

    () (Justus Liebig University Giessen)

Abstract

Using a simple OLG model where the research output of one generation provides inputs for the next, the paper explains how quality standards can become established in scientific competition. Researchers seek status, which they get if their results are used by the next generation. Quality is hereditary in the sense that input quality affects output quality. Hereditary quality allows for simple coordination on quality standards.

Suggested Citation

  • Max Albert, 2008. "Product Quality in a Simple OLG Model of Scientific Competition," MAGKS Papers on Economics 200804, Philipps-Universität Marburg, Faculty of Business Administration and Economics, Department of Economics (Volkswirtschaftliche Abteilung).
  • Handle: RePEc:mar:magkse:200804
    as

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    File URL: http://www.uni-marburg.de/fb02/makro/forschung/magkspapers/04-2008_albert.pdf
    File Function: First version, 2008
    Download Restriction: no

    References listed on IDEAS

    as
    1. Paul A. David, 2004. "Understanding the emergence of 'open science' institutions: functionalist economics in historical context," Industrial and Corporate Change, Oxford University Press, vol. 13(4), pages 571-589, August.
    2. Jurgen Meckl & Max Albert, 2008. "What Should We Expect from Peer Review? (Comment)," Conferences on New Political Economy,in: Max Albert & Stefan Voigt & Dieter Schmidtchen (ed.), Conferences on New Political Economy, edition 1, volume 25, pages 257-261(5 Mohr Siebeck, Tübingen.
    3. Christian Seidl & Peter Grosche & Ulrich Schmidt, 2008. "A Beauty Contest of Referee Processes of Economics Journals," Conferences on New Political Economy,in: Max Albert & Stefan Voigt & Dieter Schmidtchen (ed.), Conferences on New Political Economy, edition 1, volume 25, pages 235-255(2 Mohr Siebeck, Tübingen.
    4. Stephan, Paula E., 2010. "The Economics of Science," Handbook of the Economics of Innovation, Elsevier.
    5. Franz Hackl & Martin Halla & Gerald J. Pruckner, 2007. "Volunteering and Income - The Fallacy of the Good Samaritan?," Kyklos, Wiley Blackwell, vol. 60(1), pages 77-104, February.
    6. Congleton, Roger D., 1989. "Efficient status seeking: Externalities, and the evolution of status games," Journal of Economic Behavior & Organization, Elsevier, vol. 11(2), pages 175-190, March.
    7. Max Albert, 2006. "Product Quality in Scientific Competition," Papers on Strategic Interaction 2006-06, Max Planck Institute of Economics, Strategic Interaction Group.
    8. David, Paul A, 1998. "Common Agency Contracting and the Emergence of "Open Science" Institutions," American Economic Review, American Economic Association, vol. 88(2), pages 15-21, May.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    economics of science; methodology of economics; product quality; quality standards; scientific competition;

    JEL classification:

    • D02 - Microeconomics - - General - - - Institutions: Design, Formation, Operations, and Impact
    • L31 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Nonprofit Institutions; NGOs; Social Entrepreneurship
    • O31 - Economic Development, Innovation, Technological Change, and Growth - - Innovation; Research and Development; Technological Change; Intellectual Property Rights - - - Innovation and Invention: Processes and Incentives

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