Creative Careers: The Life Cycles of Nobel Laureates in Economics
This paper studies life cycle creativity among Nobel laureate economists. We identify two distinct life cycles of scholarly creativity. Experimental innovators work inductively, accumulating knowledge from experience. Conceptual innovators work deductively, applying abstract principles. We find that conceptual innovators do their most important work earlier in their careers than experimental laureates. For instance, our estimates imply that the probability that the most conceptual laureate publishes his single best work peaks at age 25 compared to the mid-50s for the most experimental laureate. Thus while experience benefits experimental innovators, newness to a field benefits conceptual innovators.
|Date of creation:||Nov 2005|
|Date of revision:|
|Contact details of provider:|| Postal: National Bureau of Economic Research, 1050 Massachusetts Avenue Cambridge, MA 02138, U.S.A.|
Web page: http://www.nber.org
More information through EDIRC
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.:
- George J. Stigler, 1971. "The Theory of Economic Regulation," Bell Journal of Economics, The RAND Corporation, vol. 2(1), pages 3-21, Spring.
- David W. Galenson, 2004. "A Portrait of the Artist as a Young or Old Innovator: Measuring the Careers of Modern Novelists," NBER Working Papers 10213, National Bureau of Economic Research, Inc.
When requesting a correction, please mention this item's handle: RePEc:nbr:nberwo:11799. 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: ()
If references are entirely missing, you can add them using this form.