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Market Failures in Science

milan.cvitkovic.net · 2,970 words · saved by 5 readers

A collection of market failures1 in science.2 If I’m missing your favorite market failure, please let me know. Contents Information Asymmetries Knowledge monopolies Mathwashing Replication Crises Poor Credit Assignment Scooping and duplicate work Author lists and contributions Citation pile-ons Public Goods Organizational inflexibility Bureaucratic Bottlenecks Taxes Administrative Burden Institutional Fees Course Teaching Requirements Small Market for Research Tools Switching Costs Graduate-student Illiquidity Bias by Funding Source Bad motivation Information Asymmetries Knowledge monopolies Scientists are incentivized to withhold as much information as possible.

A collection of market failures 1 in science. 2 If I'm missing your favorite market failure, please let me know . Contents Information Asymmetries Knowledge monopolies Scientists are incentivized to withhold as much information as possible. Scientists are incentivized to, and often do, withhold as much information as possible about their innovations in their publications to maintain a monopoly over future innovations. This slows the overall progress of science. For example, a chemist who synthesizes a new molecule will publish that they have done so in order to be rewarded for their work with

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