Economics of Science
Contents
Main
The more recent developments from the so-called ‘new economics of science’ (Dasgupta & David, 1994)[1] are rooted in the need ‘for an enhanced understanding of the social structures of scientific research to carry out an informed discussion of critical issues regarding economics’ (Sent, 1999, p. 103)[2].
One of the most prominent scholars of the economics of science is Paula Stephan. A significant part of her work has considered the impact of changing ‘market’ conditions on scientific careers. However, she has also collaborated extensively with sociological researchers in developing a broad-based definition of what are considered ‘market factors’, including family and gender dimensions. Stephan uses a human capital framework expanded to include research productivity alongside income as incentives for scientific careers, due to the fact that publishing earns prestige and recognition which is regarded as a form of capital that can be accrued and, in turn, capitalised upon (following Merton and the Matthew effect). In addition, solving puzzles is regarded as an intrinsic reward from research.
Empirical Applications
In a number of studies, research productivity is studied over the life cycle (Stephan, 2013[3] for a review; Stephan & Levin, 1997[4]). Overall, productivity either declines with age or increases initially with age before declining – with the differences apparently due to scientific field specific conditions (Stephan & Levin, 1997)[5].
Fox and Stephan (2001)[6] found that young researchers have a relatively negative view of their. Expectations of PhDs about their career prospects tends to vary between fields, and also to some extent does the mismatch between these expectations and the ‘reality’ of the careers in these fields in the academy and industry (as far as these can be objectively known). Women tend to have greater preference toward careers in teaching universities than do men, with the authors speculating this is likely to be due to lower expectations about their career opportunities on the part of women. Overall, there may be an information gap between students understanding of the possible careers awaiting them and the incentives to attend graduate school. Once again the question of career expectations, and expectations of success, are cut across by gender and by field of science.
Sauermann and Roach (2012)[7] analyse PhD career preferences and the degree to which there is a mismatch between scientists’ desired careers and the career opportunities actually available to them (1). They investigate the role of PhD advisor encouragement for different career paths. They find an oversupply of PhD graduates wanting a tenured faculty position, coupled with a strong encouragement toward the academic field on the part of advisors. This is despite a decline in interest in research across the term of the PhD, leading to careers outside academic growing in attractiveness. An information gap, between alternative pathways outside academia and the weakening desire to continue with academic research is detected.
Contributions to measurement concepts
Autonomy
Autonomy here is related to directing a lab and autonomy in choice of research topics. As such it is a part of the construct Work-experience.
Salary Levels
Different salary levels in different sectors are discussed as a factor for career decision making and are thus mainly the result of individual preferences.
Scientists’ preferences and Career Prospects
Career preferences are discussed as a combination of different job-characteristics that individuals value.
Sources
- ↑ Dasgupta, P. & David, P. A. (1994). Towards a New Economics of Science. Research Policy 23, 487–521. https://doi.org/10.1016/0048-7333(94)01002-1
- ↑ Sent, E.-M. (1999). Economics of Science: Survey and Suggestions. Journal of Economic Methodology 6(1), 95–124. https://doi.org/10.1080/13501789900000005
- ↑ Stephan, P. (2013). The Economics of the Postdoctoral Position.
- ↑ Stephan, P. E. & Levin, S.G. (1997). The Critical Importance of Careers in Collaborative Scientific Research. Revue d’économie industrielle 79(1), 45–61. Retrieved from http://www.persee.fr/web/revues/home/prescript/article/rei_0154-3229_1997_num_79_1_1652
- ↑ Cite error: Invalid
<ref>tag; no text was provided for refs namedstephan_levin - ↑ Fox, M. F. and P. E. Stephan. 2001. “Careers of Young Scientists: Preferences, Prospects and Realities by Gender and Field.” Social Studies of Science 31:109–22.
- ↑ Sauermann, Henry; and M. Roach. 2012. “Science PhD Career Preferences: Levels, Changes, and Advisor Encouragement.” PlosOne 7(5):e36307.
