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on Sociology of Economics |
| By: | Garg, Prashant; Fetzer, Thiemo |
| Abstract: | We analyze over 44, 000 economics working papers from 1980--2023 using a custom language model to construct knowledge graphs mapping economic concepts and their relationships, distinguishing between general claims and those supported by causal inference methods. The share of causal claims within papers rose from about 4\% in 1990 to 28\% in 2020, reflecting the ``credibility revolution.'' Our findings reveal a trade-off between factors enhancing publication in top journals and those driving citation impact. While employing causal inference methods, introducing novel causal relationships, and engaging with less central, specialized concepts increase the likelihood of publication in top 5 journals, these features do not necessarily lead to higher citation counts. Instead, papers focusing on central concepts tend to receive more citations once published. However, papers with intricate, interconnected causal narratives—measured by the complexity and depth of causal channels—are more likely to be both published in top journals and receive more citations. Finally, we observe a decline in reporting null results and increased use of private data, which may hinder transparency and replicability of economics research, highlighting the need for research practices that enhance both credibility and accessibility. |
| Date: | 2024–11–04 |
| URL: | https://d.repec.org/n?u=RePEc:osf:osfxxx:u4vgs |
| By: | FORAY Dominique |
| Abstract: | This paper delves into the exploration of new financial mechanisms to fund scientific research, particularly focusing on its pertinence to societal challenges. Starting with a thought-provoking discussion on the limitations of traditional research grants and the prospect of introducing research impact bonds (RIBs), Foray scrutinizes the potential of financial engineering (FE) tools in the realm of public research tied to sustainable development goals. The paper discusses the complexities of aligning research funding with outcomes, navigating through the intricacies of unhedged uncertainty and the ambiguity of defining success in research. The paper provides a comprehensive review of various FE instruments, such as mega funds and impact bonds, and their applicability to scientific research funding under certain conditions. The author outlines the challenges of preregistered research in the context of RIBs, the diversification of risk through mega funds for projects with commercial potential, and the use of prizes and advanced market commitments to shift the risk from funders to researchers. |
| Date: | 2024–11 |
| URL: | https://d.repec.org/n?u=RePEc:ipt:iptwpa:jrc139559 |