Why Scientists Chase Big Problems

• In Event: 502 - Regular Session. Sociology of Science

Abstract

Scientists pursue collective knowledge but also seek personal recognition. When scientists decide whether or not to work on a big new problem, they weigh the rewards of a major discovery against the costs of setting aside other projects. We use simple economic models to understand such individual decisions and their collec- tive consequences. Academic science differs from industrial R&D in that academics share partial solutions to gain reputation. This convention of Open Science is thought to accelerate collective discovery, but we find that it need not do so. Open Science can delay the solution if it deters entry by important actors.

Authors

• Jacob Gates Foster, University of California-Los Angeles

• Carl T. Bergstrom, University of Washington

• Yangbo Song, Chinese University of Hong Kong (Shenzhen)