Product Quality in a Simple OLG Model of Scientific Competition

Product Quality in a Simple OLG Model of Scientific Competition

Using a simple OLG model where the research output of one generation provides inputs for the next, the paper explains how quality standards can become established in scientific competition. Researchers seek status, which they get if their results are used by the next generation. Quality is heredi...

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Bibliografiske detaljer
Udgivet i:MAGKS - Joint Discussion Paper Series in Economics (Band 04-2008)
Hovedforfatter: Albert, Max
Format: Arbeit
Sprog:engelsk
Udgivet: Philipps-Universität Marburg 2008
Fag:
methodology of economics
Wirtschaft
product quality, quality standards
economics of science
scientific competition
Economics
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Summary:Using a simple OLG model where the research output of one generation provides inputs for the next, the paper explains how quality standards can become established in scientific competition. Researchers seek status, which they get if their results are used by the next generation. Quality is hereditary in the sense that input quality affects output quality. Hereditary quality allows for simple coordination on quality standards.
DOI:10.17192/es2023.0191

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