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Research funding has become prone to bubble formation | ISSP

See on Scoop.itBounded Rationality and Beyond

Fashions in research funding, reward structures in universities and streamlining of scientific agendas undermine traditional academic norms and may result in science bubbles. Research from the University of Copenhagen, which has just been published in the journal Philosophy and Technology, shows how the mechanisms that set off the financial crisis might be replicating in the field of science.

“In finance, the first condition for a bubble occurs when too much liquidity is concentrated on too few assets. The second is the presence of speculators. In science, similarly, if too much research funding is focused on too few research topics, and all researchers speculate in the same fashionable scientific templates to attract funding, a potential science bubble may be forming,” professor of Formal Philosophy Vincent F. Hendricks from University of Copenhagen explains.

See on crissp.eu



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