The Economics of Scientific Knowledge: A Rational Choice Neo-Institutionalist Theory of Science

by Yanfei Shi

Overview

The Economics of Scientific Knowledge demonstrates how contemporary economic theories, such as rational choice theory, public choice theory, game theory, and neo-institutionalist economics can be successfully applied to resolve the issues currently existing in science studies and science and technology policy.

Yanfei Shi criticizes the sociology of scientific knowledge and the traditional philosophy of science for their failures in justifying science as a rational enterprise. From an economic perspective, he explains why scientific enterprise as a public good is possible if individual scientists are self-interested and presents a new and convincing story of how scientific knowledge is produced in the contemporary society.

With professional experience as a policy analyst, Yanfei Shi's economic perspective on scientists and their behaviors, and his institutional analysis will have great implications to the current discussions on science and innovation policy issues.

Scholars and students in the fields of economics, philosophy and sociology as well as scientists, administrators and policy analysts will find this book a welcome addition to the literature of the increasingly important field of science studies.

Product Details

ISBN-13:	9781840648041
Publisher:	Edward Elgar Publishing
Publication date:	02/21/2002
Pages:	304
Product dimensions:	6.12(w) x 9.25(h) x (d)

About the Author

Yanfei Shi, Policy Analyst, The National Office for the Information Economy, Australia

Table of Contents

Contents: Introduction 1. Toward a Rational Choice Approach to Science: A Theoretical Framework 2. The Scientist as a Scientific Entrepreneur 3. The Scientist as a Scientific Consumer 4. The Scientific Community as an Exchange Organization 5. Towards an Institutional Analysis of Science: A Research Agenda 6. The Distributive Rules of Science 7. The Constitutional Rules of Science 8. The Aggregative Rules of Science Bibliography Index

Editorial Reviews

A policy analyst at the Australian National Office for the Information Economy tackles the problem of how being rational at an individual level can fit together with being scientific at the community or societal level. An adequate economic model of science is needed, he says, and introduces a rational choice approach and a neo-institutionalist approach to science. The first applies conventional economic theory and tools, such as self-interest and exchange. The other asserts that it is scientific institutions that distinguish science from other culture-producing institutions. The jacket and the title page verso call the theory neo-institutionalist. Annotation c. Book News, Inc., Portland, OR (booknews.com)