Economics of Scientific Research: Funding, Structure, and Outcomes

Gloved hand pipetting pink liquid into Erlenmeyer flask in laboratory

Dr. Eyo Herstad
Period: September 2024 – August 2027.
Funded by: Sloane Foundation

How do biomedical researchers, such as PhD students, postdoctoral scholars, and staff scientists, produce knowledge and innovation, and what factors shape their career choices? Researchers from Erasmus School of Economics, together with Bruce Weinberg (Ohio State University) and Donna Ginther (University of Kansas) study this question with funding from the Sloan Foundation. 

Reports

Finding the answer to this question requires a large set of diverse data sources, including academic-paper text, grant data, surveys, and industry labour-market reports. These data are then analysed using Large Language Models and combinations of machine learning and causal methods. By “opening the black box” of how biomedical researchers generate innovation, the project can help universities design stronger support systems for early-career scientists. 

More broadly, the project aims to help universities create healthier research ecosystems where academic and non-academic research roles coexist, reducing the gap between universities and private enterprise while improving how scientific talent is developed and retained.

Researcher

Selected projects from the Econometric Institute

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