The Economics of Science

Methodology and Epistemology as if Economics Really Mattered. This book explores aspects of science from an economic point of view. The author begins with economic models of misconduct in science, moving on to discuss other important issues, including market failure and the market place of ideas. Science is difficult and costly to do well. This study systematically creates an economics of science. Many aspects of science are explored from an economic point of view. The scientist is treated as an economically rational individual. This book begins with economic models of misconduct in science and the legitimate, normal practices of science, moving on to market failure, the market place of ideas, self-correctiveness, and the organizational and institutional structures of science. An exploration of broader methodological themes raised by an economics of science ends the work.

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