Specialization vs. Diversification: Research Strategy and Performance in Economics

Harris Dellas, Manu García, Carlos Garriga and Christian Zimmermann

No 2026-025, Working Papers from Federal Reserve Bank of St. Louis

Abstract: The tension between diversification and specialization is a central theme in economics, shaping discourse in fields as disparate as international trade, portfolio theory, and corporate scope. This paper examines this trade-off within the realm of research strategy. Using the RePEc panel database of approximately 60,000 economists, we demonstrate that the pursuit of a diversified research portfolio yields superior performance as measured by citations and publications as well as lower research attrition rates. This advantage applies to both senior and, in contrast to conventional wisdom, early-career researchers. This strategy is significantly facilitated by joint work with new co-authors.

Keywords: research strategy; diversification; specialization; publications; citations; co-authorship; research attrition (search for similar items in EconPapers)
JEL-codes: D83 D85 J24 O31 (search for similar items in EconPapers)
Pages: 46 pages
Date: 2026-11-04
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DOI: 10.20955/wp.2026.025

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