The Elasticity of Science

Myers, Kyle

The Elasticity of Science

American Economic Journal: Applied Economics, 2020, vol. 12, issue 4, 103-34

Abstract: This paper identifies the degree to which scientists are willing to change the direction of their work in exchange for resources. Data from the National Institutes of Health are used to estimate how scientists respond to targeted funding opportunities. Inducing a scientist to change their direction by a small amount—to work on marginally different topics—requires a substantial amount of funding in expectation. The switching costs of science are large. The productivity of grants is also estimated, and it appears the additional costs of targeted research may be more than offset by more productive scientists pursuing these grants.

JEL-codes: H51 I10 I23 O31 O33 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (28)

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DOI: 10.1257/app.20180518

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