Among the various institutional structures of an economy like the firm and the marketplace is one that is like no other. Science is unique. This uniqueness raises an important question: why does science exist? From an economic perspective, there are two potentially meaningful approaches to the existence of science. They both encompass institutional pluralism. A substitutes theory of comparative institutions presupposes the primacy of the commercial marketplace over firms—that firms substitute for the market when markets fail. This theory has not (...) been used to explain the existence of science. A complements theory postulates that many simultaneous institutional responses, including science, are necessary for creating an efficient and equitable economy. The economic function of science is to produce fundamental theoretical abstractions about our world. Scientific theories are public goods that would not likely be produced within the governance structures of commercial markets and firms. The aim is to complement but not supplant traditional philosophical answers that science exists to discover truth and knowledge. (shrink)

University of North Carolina at Greensboro Most approaches to the philosophy of the natural and social sciences are basedon completed scientific investigations. However, there are many importantcases in science in which testing is incomplete. These cases are termed suspendedtrials and are particularly significant in biomedical and allied health fields. Initially,the authors' interest in suspended trials was piqued by a controversialmethod for assisting autistic children known as facilitated communication. Thisarticle examines facilitated communication and other examples of suspendedtrials from the perspective of (...) an economics of science and game theory. Themodel is consistent with recent evolutionary approaches to the philosophy ofthe natural and social sciences and with recent contributions to an economicunderstanding of science. Key Words: clinical trials • innovative therapies • economics of science • suspended trials • facilitated communication • economics of clinical research. (shrink)

This paper draws a connection between recentdevelopments in naturalized philosophyof science and the Buchanan research programin economics. Economic approaches innaturalized philosophy of science canbe combined to form an economic philosophy ofscience. After giving an overview of someof these approaches, I lay out the fundamentalsof the Buchanan research program. I arguethat its main elements are a theory of interactionsand a normative foundation in consensus whichhelp to answer some important criticismsof economic philosophy of science.

In this paper, we explore different possible explanations for research misconduct (especially falsification and fabrication), and investigate whether they are compatible. We suggest that to explain research misconduct, we should pay attention to three factors: (1) the beliefs and desires of the misconductor, (2) contextual affordances, (3) and unconscious biases or influences. We draw on the three different narratives (individual, institutional, system of science) of research misconduct as proposed by Sovacool to review six different explanations. Four theories start from the (...) individual: Rational Choice theory, Bad Apple theory, General Strain Theory and Prospect Theory. Organizational Justice Theory focuses on institutional factors, while New Public Management targets the system of science. For each theory, we illustrate the kinds of facts that must be known in order for explanations based on them to have minimal plausibility. We suggest that none can constitute a full explanation. Finally, we explore how the different possible explanations interrelate. We find that they are compatible, with the exception of explanations based on Rational Choice Theory and Prospect Theory respectively, which are incompatible with one another. For illustrative purposes we examine the case of Diederik Stapel. (shrink)

The relationship between economics and the philosophy of natural science has changed substantially during the last few years. What was once exclusively a one-way relationship from philosophy to economics now seems to be much closer to bilateral exchange. The purpose of this paper is to examine this new relationship. First, I document the change. Second, I examine the situation within contemporary philosophy of science in order to explain why economics might have its current appeal. Third, I consider some of the (...) issues that might jeopardize the success of this philosophical project. (shrink)

I examine how particular social arrangements and incentive structures encourage the honest reporting of experimental results and minimize fraudulent scientific work. In particular I investigate how epistemic communities can achieve this goal by promoting members to police the community. Using some basic tools from game theory, I explore a simple model in which scientists both conduct research and have the option of investigating the findings of their peers. I find that this system of peer policing can in many cases ensure (...) high levels of honesty. (shrink)