IDEAS home Printed from https://ideas.repec.org/a/spr/scient/v55y2002i1d10.1023_a1016059402618.html
   My bibliography  Save this article

The scientific economy of attention: A novel approach to the collective rationality of science

Author

Listed:
  • Georg Franck

    (Institut für EDV-gestützte Methoden in Architektur und Raumplanung Technische Universität)

Abstract

Science is the core sector of present-day knowledge production. Yet, the mechanisms of science as an industry are poorly understood. The economic theory of science is still in its infancy, and philosophy of science has only sparsely addressed the issue of economic rationality. Research, however, is costly. Inefficient use of resources consumed by the scientific industry is as detrimental to the collective advancement of knowledge as are deficiencies in method. Economic inefficiency encompasses methodological inadequacy. Methods are inadequate if they tend to misallocate time and effort. If one omits the question of how inputs are transformed into outputs in self-organised knowledge production, this means neglecting an essential aspect of the collective rationality of science. A self-organised tendency towards efficiency comes to the fore as soon as science is described as an economy in which researchers invest their own attention in order to obtain the attention of others. Viewed like this, scientific communication appears to be a market where information is exchanged for attention. Scientific information is measured in terms of the attention it earns. Since scientists demand scientific information as a means of production, the attention that a theory attracts is a measure of its value as a capital good. On the other hand, the attention a scientist earns is capitalised into the asset called reputation. Elaborating the ideas introduced in Franck (1998) and (1999), the paper describes science as a highly developed market economy. Science conceived as capital market covers the specific conditions under which scientists, while maximising their reputation, optimise output in the eyes of those competent to judge. Attention is not just any resource. It is the resource whose efficient use is called intelligence. Science, as an industry transforming attention into cognitive output, is bound to miss the hallmark of rationality if it does not pass a test of collective intelligence. The paper closes with considering the prospective outcome of such a test.

Suggested Citation

  • Georg Franck, 2002. "The scientific economy of attention: A novel approach to the collective rationality of science," Scientometrics, Springer;Akadémiai Kiadó, vol. 55(1), pages 3-26, September.
  • Handle: RePEc:spr:scient:v:55:y:2002:i:1:d:10.1023_a:1016059402618
    DOI: 10.1023/A:1016059402618
    as

    Download full text from publisher

    File URL: http://link.springer.com/10.1023/A:1016059402618
    File Function: Abstract
    Download Restriction: Access to the full text of the articles in this series is restricted.

    File URL: https://libkey.io/10.1023/A:1016059402618?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Stephan, Paula E., 2010. "The Economics of Science," Handbook of the Economics of Innovation, in: Bronwyn H. Hall & Nathan Rosenberg (ed.), Handbook of the Economics of Innovation, edition 1, volume 1, chapter 0, pages 217-273, Elsevier.
    Full references (including those not matched with items on IDEAS)

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Rüdiger Mutz & Tobias Wolbring & Hans-Dieter Daniel, 2017. "The effect of the “very important paper” (VIP) designation in Angewandte Chemie International Edition on citation impact: A propensity score matching analysis," Journal of the Association for Information Science & Technology, Association for Information Science & Technology, vol. 68(9), pages 2139-2153, September.
    2. William P. Fisher, 2020. "Contextualizing Sustainable Development Metric Standards: Imagining New Entrepreneurial Possibilities," Sustainability, MDPI, vol. 12(22), pages 1-22, November.
    3. Wu, Leyan & Yi, Fan & Bu, Yi & Lu, Wei & Huang, Yong, 2024. "Toward scientific collaboration: A cost-benefit perspective," Research Policy, Elsevier, vol. 53(2).
    4. Gerullis, Maria K. & Sauer, Johannes, 2017. "Interdisciplinarity of Innovation Assessments in Plant Breeding - A Citation Network Analysis," 57th Annual Conference, Weihenstephan, Germany, September 13-15, 2017 262168, German Association of Agricultural Economists (GEWISOLA).
    5. David Howoldt & Henning Kroll & Peter Neuhäusler, 2023. "Relating popularity on Twitter and Linkedin to bibliometric indicators of visibility and interconnectedness: an analysis of 8512 applied researchers in Germany," Scientometrics, Springer;Akadémiai Kiadó, vol. 128(10), pages 5571-5594, October.
    6. Pashkevich, Natallia & von Schéele, Fabian & Haftor, Darek M., 2023. "Accounting for cognitive time in activity-based costing: A technology for the management of digital economy," Technological Forecasting and Social Change, Elsevier, vol. 186(PB).
    7. Polterovich, Victor, 2023. "Авторский Капитал И Реформирование Российской Публикационной Системы [Authorship Capital and reforming The Russian Publication System]," MPRA Paper 117309, University Library of Munich, Germany.
    8. Bornmann, Lutz & Marx, Werner, 2018. "Critical rationalism and the search for standard (field-normalized) indicators in bibliometrics," Journal of Informetrics, Elsevier, vol. 12(3), pages 598-604.

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Jarle Moen, 2005. "Is Mobility of Technical Personnel a Source of R&D Spillovers?," Journal of Labor Economics, University of Chicago Press, vol. 23(1), pages 81-114, January.
    2. Roberto Iorio & Sandrine Labory & Francesco Rentocchini, 2014. "Academics’ Motivations and Depth and Breadth of Knowledge Transfer Activities," Working Papers 1401, c.MET-05 - Centro Interuniversitario di Economia Applicata alle Politiche per L'industria, lo Sviluppo locale e l'Internazionalizzazione.
    3. Petersen, Alexander M. & Rotolo, Daniele & Leydesdorff, Loet, 2016. "A triple helix model of medical innovation: Supply, demand, and technological capabilities in terms of Medical Subject Headings," Research Policy, Elsevier, vol. 45(3), pages 666-681.
    4. Catalina Martínez & Valerio Sterzi, 2021. "The impact of the abolishment of the professor’s privilege on European university-owned patents," Industry and Innovation, Taylor & Francis Journals, vol. 28(3), pages 247-282, March.
    5. Carayol, Nicolas & Dalle, Jean-Michel, 2007. "Sequential problem choice and the reward system in Open Science," Structural Change and Economic Dynamics, Elsevier, vol. 18(2), pages 167-191, June.
    6. David Grosse Kathoefer & Jens Leker, 2012. "Knowledge transfer in academia: an exploratory study on the Not-Invented-Here Syndrome," The Journal of Technology Transfer, Springer, vol. 37(5), pages 658-675, October.
    7. Mueller-Langer, Frank & Andreoli-Versbach, Patrick, 2018. "Open access to research data: Strategic delay and the ambiguous welfare effects of mandatory data disclosure," Information Economics and Policy, Elsevier, vol. 42(C), pages 20-34.
    8. David B. Audretsch & Taylor Aldridge & Alexander Oettl, 2006. "The Knowledge Filter and Economic Growth: The Role of Scientist Entrepreneurship," Papers on Entrepreneurship, Growth and Public Policy 2006-11, Max Planck Institute of Economics, Entrepreneurship, Growth and Public Policy Group.
    9. Ernest Miguélez & Rosina Moreno, 2013. "Do Labour Mobility and Technological Collaborations Foster Geographical Knowledge Diffusion? The Case of European Regions," Growth and Change, Wiley Blackwell, vol. 44(2), pages 321-354, June.
    10. Ferretti, Marco & Guerini, Massimiliano & Panetti, Eva & Parmentola, Adele, 2022. "The partner next door? The effect of micro-geographical proximity on intra-cluster inter-organizational relationships," Technovation, Elsevier, vol. 111(C).
    11. José Miguel Benavente & Gustavo Crespi & Alessandro Maffioli, 2007. "The Impact of National Research Funds: An Evaluation of the Chilean FONDECYT," OVE Working Papers 0307, Inter-American Development Bank, Office of Evaluation and Oversight (OVE).
    12. Lee Branstetter & Kwon Hyeog Ug, 2004. "The Restructuring Of Japanese Research And Development: The Increasing Impact Of Science On Japanese R&D," Discussion papers 04021, Research Institute of Economy, Trade and Industry (RIETI).
    13. Véronique Schaeffer & Sıla Öcalan-Özel & Julien Pénin, 2020. "The complementarities between formal and informal channels of university–industry knowledge transfer: a longitudinal approach," The Journal of Technology Transfer, Springer, vol. 45(1), pages 31-55, February.
    14. Charles Ayoubi & Boris Thurm, 2023. "Knowledge diffusion and morality: Why do we freely share valuable information with Strangers?," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 32(1), pages 75-99, January.
    15. Majda Benzidia & Michel Lubrano, 2016. "A Bayesian Look at American Academic Wages: The Case of Michigan State University," AMSE Working Papers 1628, Aix-Marseille School of Economics, France.
    16. Auspurg Katrin & Hinz Thomas, 2011. "What Fuels Publication Bias?: Theoretical and Empirical Analyses of Risk Factors Using the Caliper Test," Journal of Economics and Statistics (Jahrbuecher fuer Nationaloekonomie und Statistik), De Gruyter, vol. 231(5-6), pages 636-660, October.
    17. Watzinger, Martin & Schnitzer, Monika, 2019. "Standing on the Shoulders of Science," Rationality and Competition Discussion Paper Series 215, CRC TRR 190 Rationality and Competition.
    18. Ceccagnoli, Marco & Lee, You-Na & Walsh, John P., 2024. "Reaching beyond low-hanging fruit: Basic research and innovativeness," Research Policy, Elsevier, vol. 53(1).
    19. Nicolas Carayol & Elodie Carpentier, 2022. "The spread of academic invention: a nationwide case study on French data (1995–2012)," The Journal of Technology Transfer, Springer, vol. 47(5), pages 1395-1421, October.
    20. Jinyoung Kim & Kanghyock Koh, 2014. "Incentives for Journal Editors," Canadian Journal of Economics/Revue canadienne d'économique, John Wiley & Sons, vol. 47(1), pages 348-371, February.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:spr:scient:v:55:y:2002:i:1:d:10.1023_a:1016059402618. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sonal Shukla or Springer Nature Abstracting and Indexing (email available below). General contact details of provider: http://www.springer.com .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.