Using a simple OLG model where the research output of one generation provides inputs for the next, the paper explains how quality standards can become established in scientific competition. Researchers seek status, which they get if their results are used by the next generation. Quality is...

If we take it that, at least in the social sciences, "realistic" implies "finite", then countless economic models involving infinitary assumptions must obviously be classified as unrealistic - for example, models with infinitely divisible goods, a continuum of traders, consumers optimizing over...