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Incentives for Developing and Communicating Principles: A Reply

Author

Listed:
  • JS Armstrong

    (The Wharton School)

Abstract

The commentators raised many interesting ideas in response to Armstrong and Pagell (2003), from which one general theme emerges: The commentators claim that management science lacks the incentives to encourage efforts to develop and communicate grounded principles. As a result, academics often conduct their research as an intellectual exercise with little concern as to whether their findings might eventually be of any practical use. The problem extends beyond management science. Smith (1991), an editor of the British Medical Journal, concluded from a review that only about 15 percent of medical interventions are supported by solid scientific evidence. He attributes this disconnect to an estimate that only about one percent of articles in medical journals are scientifically sound. Such results indicate problems with incentives in research.

Suggested Citation

  • JS Armstrong, 2005. "Incentives for Developing and Communicating Principles: A Reply," General Economics and Teaching 0502049, University Library of Munich, Germany.
    • Handle: RePEc:wpa:wuwpgt:0502049
    Note: Type of Document - pdf; pages: 1
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    References listed on IDEAS

    as
    1. J. Scott Armstrong & Ruth Pagell, 2003. "The Ombudsman: Reaping Benefits from Management Research: Lessons from the Forecasting Principles Project," Interfaces, INFORMS, vol. 33(6), pages 91-111, December.
    2. Lomborg,Bjørn, 2001. "The Skeptical Environmentalist," Cambridge Books, Cambridge University Press, number 9780521010689, October.
    3. Hubbard, Raymond & Vetter, Daniel E., 1996. "An empirical comparison of published replication research in accounting, economics, finance, management, and marketing," Journal of Business Research, Elsevier, vol. 35(2), pages 153-164, February.
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    More about this item

    Keywords

    incentives; communication; principles;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching

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