nep-sog New Economics Papers
on Sociology of Economics
Issue of 2005‒09‒29
five papers chosen by
Jonas Holmström
Swedish School of Economics and Business Administration

  1. Money, Fame and the Allocation of Talent: Brain Drain, the Matthew Effect and the Institution of Science By Doh-Shin Jeon; Domenico Menicucci
  2. In search of an audience... By Stremersch, S.
  3. Supporting %u201CThe Best and Brightest%u201D in Science and Engineering: NSF Graduate Research Fellowships By Richard B. Freeman; Tanwin Chang; Hanley Chiang
  4. Faculty Retention factors at European Business Schools. How Deans and Faculty Perceptions Differ. By Moratis, L.; Baalen, P.J. van; Teunter, L.H.; Verhaegen, P.H.A.M.
  5. The effect of university culture and stakeholders' perceptions on university-business linking activities By Jeannine Horowitz Gassol

  1. By: Doh-Shin Jeon; Domenico Menicucci
    Abstract: The earning structure in science is known to be flat relative to the one in the private sector, which could cause a brain drain toward the private sector. In this paper, we assume that agents value both money and fame and study the role of the institution of science in the allocation of talent between the science sector and the private sector. Following works on the Sociology of Science, we model the institution of science as a mechanism distributing fame (i.e. peer recognition). We show that since the intrinsic performance is less noisy signal of talent in the science sector than in the private sector, a good institution of science can mitigate the brain drain. We also find that providing extra monetary incentives through the market might undermine the incentives provided by the institution and thereby worsen the brain drain. Finally, we study the optimal balance between monetary and non-monetary incentives in science.
    Keywords: Fame, Science, Brain Drain, Incentives, Asymmetric Information
    JEL: D82 H21 H41 J24
    Date: 2005–02
  2. By: Stremersch, S. (Erasmus Research Institute of Management (ERIM), RSM Erasmus University)
    Abstract: For an academic, finding an audience is critical. However, finding an audience is not always easy for most marketing academics. This inaugural address explores what the challenges are in finding an audience, among fellow scholars, students, public policy, industry, or society in general. It finds that the academic audience for marketing research is: (1) often small; (2) constrained to the own discipline; and (3) mostly located in the United States. The student audience is also under pressure, due to: (1) the difficult translation of academic marketing research to marketing education; (2) shifting student preferences; and (3) lack of involvement of students. The audience in society is too small due to a lack of relevance of marketing research in three ways: (1) lack of a public policy perspective; (2) too incremental insights to be useful to practice; and (3) too much focus on rigor to be interesting for the press. This address cites three ways to grow towards a larger and more loyal audience by evolving towards: (1) a truly globalized community of marketing academics; (2) living together with our source disciplines; and (3) a stronger focus on the knowledge economy and the life sciences.
    Keywords: Marketing;Marketing Research;Philosophy of Science;Takeoff;Globalization;Pharmaceuticals;Biotechnology;Knowledge economy;
    Date: 2005–04–15
  3. By: Richard B. Freeman; Tanwin Chang; Hanley Chiang
    Abstract: The National Science Foundation's (NSF) Graduate Research Fellowship (GRF) is a highly prestigious award for science and engineering (S&E) graduate students. This paper uses data from 1952 to 2004 on the population of over 200,000 applicants to the GRF to examine the determinants of the number and characteristics of applicants and the characteristics of awardees. In the early years of the program, GRF awards went largely to physical science and mathematics students and disproportionately to white men, but as the composition of S&E students has changed, larger shares have gone to biological sciences, social sciences, and engineering, and to women and minorities. The absolute number of awards has varied over time, with no trend. Because the number of new S&E college graduates has risen, the result is a sharp decline in the number of awards per S&E bachelor's graduate. In the 2000s approximately 1/3rd as many NSF Fellowships were granted per S&E baccalaureate than in the 1950s-1970s. The dollar value of the awards relative to the earnings of college graduates has also varied greatly over time. Our analysis of the variation in the number and value of awards and of the characteristics of applicants and awardees finds that: 1. The primary determinant of winning a GRF are academic skills, which greatly impact panel ratings of applicants. Consistent with efforts to increase S&E diversity, women and minorities have higher changes of winning an award than white men with similar attributes. 2. The size of the applicant pool varies with the relative value of the stipend, the number of S&E bachelor's graduates, and the lagged number of awards per graduate. We estimate that for every 10% increase in the stipend value, the number of applications goes up by 8 to 10 percent. 3. The average measured skill of awardees falls when the number of awards are increased and rises with the value of fellowships. 4. The supply of applicants contains enough qualified candidates to allow for a sizeable increase in the number of awards without greatly reducing measured skills. 5. The supply of highly skilled applicants is sufficiently responsive to the value of awards that increases in the value of stipends could attract some potentially outstanding science and engineering students who would otherwise choose other careers.
    Date: 2005–09
  4. By: Moratis, L.; Baalen, P.J. van; Teunter, L.H.; Verhaegen, P.H.A.M. (Erasmus Research Institute of Management (ERIM), RSM Erasmus University)
    Abstract: Developments in the management education environment present business schools with several challenges. Among these, perhaps the most important to address relates to a mission-critical resource for business schools: faculty retention. In this paper, we position and examine this problem within the context of business schools. We present the results of a research project on faculty retention that was conducted in 2003-2004 among European business school faculty and deans. The results identify the most important factors for faculty retention and suggest that there are perception gaps between faculty and deans on these factors that could lead to distorted decision-making and suboptimal resource allocation.
    Keywords: European Business Schools;Retention Factors;Retention Strategies;Business Schools at Risk;Perception Gaps between Faculty and Deans;
    Date: 2005–06–01
  5. By: Jeannine Horowitz Gassol
    Abstract: The present work discusses the effects of university culture and structure on university-business relations, focusing on knowledge transfer activities. It puts forward the thesis that when links between university and business are introduced into the university system as a turn-key proposition rather than as developmental process, the prevailing university culture and structure will exert resistance against change and will oppose the creation of appropriate structures to promote them, with deleterious effects for the university.
    Keywords: technology transfer, organizational development and innovation management
    JEL: O31 O32 O33 O57
    Date: 2005–05

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