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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Bibliographic Details
Published in:MAGKS - Joint Discussion Paper Series in Economics (Band 04-2008)
Main Author: Albert, Max
Format: Work
Language:English
Published: Philipps-Universität Marburg 2008
Subjects:
Wirtschaft
methodology of economics
economics of science
product quality, quality standards
scientific competition
Economics
Online Access:PDF Full Text
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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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