Scientific research has played a critical role in the life of the university for a considerable period of time, both in Europe and in the US. While much remains the same in the relationship between science and the university, considerable change has occurred in recent years. Here we outline...

Some scholars view academic and industrial science as qualitatively different knowledge production regimes. Others claim that the two sectors are increasingly similar. Large-scale empirical evidence regarding similarities and differences, however, has been missing. Drawing on prior work on the...

This chapter examines the contributions that economists have made to the study of science and the types of contributions the profession is positioned to make in the future. Special emphasis is placed on the public nature of knowledge and characteristics of the reward structure that encourage the...

Scientific research has properties of a public good; there are few monetary incentives for individuals to undertake basic research and the conventional wisdom is that the market, if left to its own devices, would under- invest in research in terms of social benefits relative to social costs. Thus...