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In this paper we put forward a model of basic research and long-run economic growth in which the incentives of social reward to scientific work may produce increasing returns and multiple equilibria. The state organizes production of new knowledge - a public good that improves firms technology -...

In this paper we investigate the aggregate implications of social interactions for basic research and economic growth. In particular, we focus on the effects of both the size of the scientific community and the strenght of social exchange among researchers on science productivity and uneven...

Purpose – Recent economic research has focused on the economic effects of the social environment. In the economic literature, important phenomena are considered, at least in part, as results of the individual's social environment. There is a similar revival of interest among economists who...