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 sociolo ...
, 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) information theoretic and transaction costs. Boumans and Davis (2010) mention
Dasgupta and
David
David (; , "beloved one") (traditional spelling), , ''Dāwūd''; grc-koi, Δαυΐδ, Dauíd; la, Davidus, David; gez , ዳዊት, ''Dawit''; xcl, Դաւիթ, ''Dawitʿ''; cu, Давíдъ, ''Davidŭ''; possibly meaning "beloved one". w ...
(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.]
See also
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Economics of science
The economics of science aims to understand the impact of science on the advance of technology, to explain the behavior of scientists, and to understand the efficiency or inefficiency of scientific institutions and markets.
The importance of the e ...
References
{{DEFAULTSORT:Economics of scientific knowledge (ESK)
Science and technology studies
Historiography of science
Science studies
Interdisciplinary subfields of economics