The use of mathematics in economics and its effect on a scholar's academic career
There has been so much debate on the increasing use of formal methods in Economics. Although there are some studies tackling these issues, those use either a little amount of papers, a small amount of scholars or a short period of time. We try to overcome these challenges constructing a database characterizing the main socio-demographic and academic output of a survey of 438 scholars divided into three groups: Economics Nobel Prize winners; scholars awarded with at least one of six worldwide prestigious economics recognitions; and academic faculty randomly selected from the top twenty economics departments. We give statistical evidence on the increasing trend of number of equations and econometric outputs per article, showing that for each of these variables there have been four structural breaks and three of them have been increasing ones. Therefore, we provide concrete measures of mathematization in Economics. Furthermore, we found that the use and training in mathematics has a positive correlation with the probability of winning a Nobel Prize in certain cases. It also appears that being an empirical researcher as measured by the average number of econometrics outputs has a negative correlation with someone's academic career success.
|Date of creation:||Sep 2012|
|Contact details of provider:|| Postal: Ludwigstraße 33, D-80539 Munich, Germany|
Web page: https://mpra.ub.uni-muenchen.de
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.:
- Debreu, Gerard, 1986. "Theoretical Models: Mathematical Forms and Economic Content," Econometrica, Econometric Society, vol. 54(6), pages 1259-1270, November.
- John McMillan & Drucilla Ekwurzel, 2001. "Economics Online," Journal of Economic Literature, American Economic Association, vol. 39(1), pages 7-10, March.
- Anderson, Gary M. & Goff, Brian L. & Tollison, Robert D., 1986. "The Rise and (Recent) Decline of Mathematical Economics," Journal of the History of Economic Thought, Cambridge University Press, vol. 8(01), pages 44-48, June.
- Backus, David K & Kehoe, Patrick J, 1992.
"International Evidence of the Historical Properties of Business Cycles,"
American Economic Review,
American Economic Association, vol. 82(4), pages 864-888, September.
- David K. Backus & Patrick J. Kehoe, 1991. "International evidence on the historical properties of business cycles," Staff Report 145, Federal Reserve Bank of Minneapolis.
- David K. Backus & Patrick J. Kehoe, 1992. "International Evidence on the Historical Properties of Business Cycles," Working Papers 92-5, New York University, Leonard N. Stern School of Business, Department of Economics.
- David Colander, 2005. "The Making of an Economist Redux," Journal of Economic Perspectives, American Economic Association, vol. 19(1), pages 175-198, Winter.
- David Colander, 2005. "The Making of An Economist Redux," Middlebury College Working Paper Series 0531, Middlebury College, Department of Economics.
- Grubel, Herbert G & Boland, Lawrence A, 1986. "On the Efficient Use of Mathematics in Economics: Some Theory, Facts and Results of an Opinion Survey," Kyklos, Wiley Blackwell, vol. 39(3), pages 419-442.
- Robert J. Gordon, 1997. "What is the Econometric Society? History, Organization, and Basic Procedures," Econometrica, Econometric Society, vol. 65(6), pages 1443-1452, November.
- Bai, Jushan, 1997. "Estimating Multiple Breaks One at a Time," Econometric Theory, Cambridge University Press, vol. 13(03), pages 315-352, June.
- Jushan Bai, 1995. "Estimating Multiple Breaks One at a Time," Working papers 95-18, Massachusetts Institute of Technology (MIT), Department of Economics.
- William L. Goffe & Robert P. Parks, 1997. "The Future Information Infrastructure in Economics," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 75-94, Summer.
- Rader, Trout, 1972. "Theory of Microeconomics," Elsevier Monographs, Elsevier, edition 1, number 9780125750509.
- Jushan Bai & Pierre Perron, 2003. "Computation and analysis of multiple structural change models," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 18(1), pages 1-22.
- BAI, Jushan & PERRON, Pierre, 1998. "Computation and Analysis of Multiple Structural-Change Models," Cahiers de recherche 9807, Universite de Montreal, Departement de sciences economiques.
- Tom Doan, "undated". "MULTIPLEBREAKS: RATS procedure to perform multiple structural change analysis," Statistical Software Components RTS00138, Boston College Department of Economics.
- Tom Doan, "undated". "RATS programs to replicate examples of Bai-Perron procedure," Statistical Software Components RTZ00008, Boston College Department of Economics.
- Tom Doan, "undated". "BAIPERRON: RATS procedure to perform Bai-Perron Test for Multiple Structural Changes," Statistical Software Components RTS00013, Boston College Department of Economics.
When requesting a correction, please mention this item's handle: RePEc:pra:mprapa:41341. 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: (Joachim Winter)
If references are entirely missing, you can add them using this form.