The economics of scientific knowledge is an approach to understanding science which is predicated on the need to understand scientific knowledge creation and dissemination in economic terms. The approach has been developed as a contrast to the

sociology of scientific knowledge The sociology of scientific knowledge (SSK) is the study of science as a social activity, especially dealing with "the social conditions and effects of science, and with the social structures and processes of scientific activity." The sociology ...

, which places scientists in their social context and examines their behavior using social theory. The economics of scientific knowledge typically involves thinking of scientists as having economic interests with these being thought of as utility maximisation and science as being a market process. Modelling strategies might use any of a variety of approaches including the neoclassical, game theoretic, behavioural (

bounded rationality Bounded rationality is the idea that rationality is limited when individuals decision-making, make decisions, and under these limitations, rational individuals will select a decision that is satisficing, satisfactory rather than optimal. Limitat ...

) information theoretic and transaction costs. Boumans and Davis (2010) mention Dasgupta and

David David (; , "beloved one") was a king of ancient Israel and Judah and the third king of the United Monarchy, according to the Hebrew Bible and Old Testament. The Tel Dan stele, an Aramaic-inscribed stone erected by a king of Aram-Dam ...

(1994) as being an interesting early example of work in this area.Dasgupta P. and David P. (1994), Towards a New Economics of Science, ''Research Policy'', 23:487–532.

References

Science and technology studies Historiography of science Science studies Interdisciplinary subfields of economics {{intell-hist-stub

See also

References