The Impact of Nobel Prize Winners in Economics: Mainline vs. Mainstream

See on Scoop.itDual impact of research; towards the impactelligent university

Abstract:

We assess the impact of two groups of economists: mainline economists, who regard economics primarily as the science of exchange and mainstream economists, who perceive economics primarily as the science of choice. To control for scholarly quality we investigate the citation impact of Nobel Prize winning economists, who we break up into the two groups, mainline and mainstream. We find that over the period from 1970 to 2007 mainline economists had more of an impact than mainstream economists.

 

Conclusion:

“The expanding field of economics into many subfields may be considered a positive development for a maturing science. Yet, the close connection between economics and politics presents a temptation to alter the allocation of scholarly efforts to fashionable areas that tend to bring fame and prominence over scholarly pursuits that bring less personal accolades but advance the core propositions of the discipline. We find that those Nobel Laureates who allocated their scholarly activities to advancing our understanding of the core ideas of the discipline, first advanced by Adam Smith and David Hume, are the scholars who have maintained the largest enduring impact on the social science profession as measured by the annual number of citations received.”

 

Source:

The Impact of Nobel Prize Winners in Economics: Mainline vs. Mainstream

Peter J. Boettke,Alexander Fink,Daniel J. Smith

American Journal of Economics and Sociology

Volume 71, Issue 5, pages 1219–1249, November 2012

DOI: 10.1111/j.1536-7150.2012.00861.x

See on onlinelibrary.wiley.com

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About Wilfred Mijnhardt
RMIMR is my virtual playground, a place to reflect on issues from my professional context, my job as Policy Director at Rotterdam School of Management, Erasmus University (RSM). RSM is the international university based business school at Erasmus University Rotterdam. More info here: www.rsm.nl Here is my list of relevant publications on the topic of my RMIMR weblog: http://www.mendeley.com/collections/694621/RMIMR-Repository/ The rss feed for my RMIMR collection is here: http://www.mendeley.com/collections/rss/694621/ Here is my other weblog on impact of research: http://www.scoop.it/t/dualimpact

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