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 research, especially of a basic nature, has traditionally been …

soliciting the submission of high-risk research to either regular or specially designed programs. Little evidence, however, has … out to study this using data from the European Research Council (ERC), a program within the EC, established in 2007 to … support high-risk/high-gain research. We examine whether the ERC selected researchers with a track record of conducting risky …

noncognitive resources play in discovery is discussed as well as the costs of resources used in research. Different models for the … funding of research are presented. The chapter also discusses scientific labor markets and the extreme difficulty encountered … scientific research to economic growth and suggestions for future research. …

Research which explores unchartered waters has a high potential for major impact but also carries a higher uncertainty … of having impact. Such explorative research is often described as taking a novel approach. This study examines the … complex relationship between pursuing a novel approach and impact. Viewing scientific research as a combinatorial process, we …

Research which explores unchartered waters has a high potential for major impact but also carries a higher uncertainty … of having impact. Such explorative research is often described as taking a novel approach. This study examines the … complex relationship between pursuing a novel approach and impact. Viewing scientific research as a combinatorial process, we …