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Public Policy towards Science : Picking Stars or Spreading the Wealth ?

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  • Ashish Arora
  • Alfonso Gambardella

Abstract

[fre] Ce papier fournit un nouveau fondement rationnel pour le financement public de la recherche scientifique. Nous montrons que les financements industriels de la recherche scientifique conduisent à une allocation de ressources privilégiant de façon excessive les scientifiques ayant une réputation ancienne très forte (les « étoiles »). Ceci, est dû à ce que l'industrie a moins d'incitation que la société à financer des chercheurs simplement en vue de tester leur capacité. [eng] This paper provides another rationale for public funding of scientific research. We argue that industry funding of scientific research will lead to an excessive allocation of resources to scientists with greater past reputation (the « stars »). This is because industry will have fewer incentives than society as a whole to fund researchers (e.g. young people) just for the sake of assessing whether they are « able » or not. Not only will public agencies fund less prominent researchers as well, but we show with a simple model that this strategy is efficient in the long run.

Suggested Citation

  • Ashish Arora & Alfonso Gambardella, 1997. "Public Policy towards Science : Picking Stars or Spreading the Wealth ?," Revue d'Économie Industrielle, Programme National Persée, vol. 79(1), pages 63-75.
    • Handle: RePEc:prs:recind:rei_0154-3229_1997_num_79_1_1653
    DOI: 10.3406/rei.1997.1653
    Note: DOI:10.3406/rei.1997.1653
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    Cited by:

    1. Antonelli, Cristiano & Crespi, Francesco, 2013. "The "Matthew effect" in R&D public subsidies: The Italian evidence," Technological Forecasting and Social Change, Elsevier, vol. 80(8), pages 1523-1534.
    2. Marcos Segantini & Lori A. Dickes, 2020. "Recurrent funding in entrepreneurship: an analysis of repeated events," Documentos de Investigación 123, Universidad ORT Uruguay. Facultad de Administración y Ciencias Sociales.
    3. Qiang Zhi & Tianguang Meng, 2016. "Funding allocation, inequality, and scientific research output: an empirical study based on the life science sector of Natural Science Foundation of China," Scientometrics, Springer;Akadémiai Kiadó, vol. 106(2), pages 603-628, February.
    4. Mangematin, V., 2000. "PhD job market: professional trajectories and incentives during the PhD," Research Policy, Elsevier, vol. 29(6), pages 741-756, June.
    5. Cristiano Antonelli & Francesco Crespi, 2012. "Matthew Effects And R&D Subsidies: Knowledge Cumulability In High-Tech And Low-Tech Industries," Giornale degli Economisti, GDE (Giornale degli Economisti e Annali di Economia), Bocconi University, vol. 71(1), pages 5-31, October.
    6. Praag, Mirjam van & Zunino, Diego & Dushnitsky, Gary, 2017. "Badge of Honor or Scarlet Letter? Unpacking Investors’ Judgment of Entrepreneurs’ Past Failure," CEPR Discussion Papers 12329, C.E.P.R. Discussion Papers.
    7. Zhifeng Yin & Qiang Zhi, 2017. "Dancing with the academic elite: a promotion or hindrance of research production?," Scientometrics, Springer;Akadémiai Kiadó, vol. 110(1), pages 17-41, January.
    8. Diego Zunino & Mirjam (C.M.) van Praag & Gary Dushnitsky, 2017. "Badge of Honor or Scarlet Letter? Unpacking Investors' Judgment of Entrepreneurs' Past Failure," Tinbergen Institute Discussion Papers 17-085/VII, Tinbergen Institute.
    9. Carayol, Nicolas, 2003. "Objectives, agreements and matching in science-industry collaborations: reassembling the pieces of the puzzle," Research Policy, Elsevier, vol. 32(6), pages 887-908, June.
    10. Paolo Seri, 2014. "The knowledge impact of new decentralized universities: an empirical study on Italy," Working Papers 1402, University of Urbino Carlo Bo, Department of Economics, Society & Politics - Scientific Committee - L. Stefanini & G. Travaglini, revised 2014.
    11. Ramello Giovanni B., 2005. "Intellectual Property and the Markets of Ideas," Review of Network Economics, De Gruyter, vol. 4(2), pages 1-20, June.
    12. Rodríguez-Pose, Andrés & Belso-Martinez, Jose Antonio & Díez-Vial, Isabel, 2021. "Playing the innovation subsidy game: experience, clusters, consultancy, and networking in regional innovation support," LSE Research Online Documents on Economics 111603, London School of Economics and Political Science, LSE Library.
    13. Cellini, Roberto & Cuccia, Tiziana, 2007. "Information externality in the arts and the public intervention: a brief note," MPRA Paper 5193, University Library of Munich, Germany.

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