New scientific discoveries are the basis of long-term economic growth and social progress. In contrast with many historical accounts -- which often depict new ideas as arising serendipitously -- the lens of economics views innovation as an economic problem which depends on the active choices of individuals and firms who respond to incentives. The simple insight that incentives may affect which scientific discoveries are made as well as which discoveries successfully develop and diffuse into technologies with real-world impact opens the possibility that the design of public policies can have important effects on innovation, economic growth, and social progress.
Over the past several years, I have been piloting various efforts attempting to encourage more research aimed at improving how we -- as a society -- do science, and aimed at developing better science policy. Much of this work has been undertaken in close collaboration with Alec Stapp and Caleb Watney at the Institute for Progress, a non-partisan think tank based in Washington DC, as well as with Matt Clancy and Paul Niehaus.
In our view, there is a need to develop a much richer support system to enable individuals with different backgrounds and skillsets to contribute to this work over the long-term. Matt Clancy, Dan Correa, Jordan Dworkin, Paul Niehaus, Caleb Watney and I recently published a short comment in Nature -- To Speed Scientific Progress, Understand How Science Policy Works -- that describes some of our work. Below are more detailed descriptions of some of our early efforts to develop such an infrastructure. You can also get an overview by listening to this discussion Caleb Watney and I recorded with Cardiff Garcia, this discussion I recorded with Ruveyda Gozen and John Van Reenen, or by reading this Works in Progress piece Paul Niehaus and I wrote.
Partnership development
In my view, the highest-impact research projects in this area will grow out of a deep, organic understanding of -- or collaboration with -- the institutions whose work the research seeks to inform.
Some researchers will gain this translational knowledge by directly spending time in government service positions: working temporarily as a program officer at the National Science Foundation (NSF), or as a program manager at DARPA, or on a paid or unpaid assignment via the Intergovernmental Personnel Act (IPA) doing targeted work with a federal agency. The pilot Sabbaticals in Service program aims to help with matchmaking these types of placements, with a focus on the economic and social sciences; for example, the Congressional Budget Office (CBO) Visiting Scholars program is an example of the type of placement that pilot would like to support.
This translational knowledge can also sometimes be gained through more part-time or shorter-term engagements. One example of such a shorter-term engagement is the recent NSF Place-Based Innovation Policy Study Group, led by Jorge Guzman, Scott Stern, and I. The goal of the study group was to deploy “timely insight for the NSF Regional Innovation Engines program,” but also greatly benefitted the participating academics in surfacing academic research questions of interest to the NSF. For more details, see "Accelerating Innovation Ecosystems: The Promise and Challenges of Regional Innovation Engines" with Jorge Guzman, Fiona Murray, and Scott Stern.
More generally, the Federation of American Scientists (in particular, Dan Correa and Jordan Dworkin) and the Institute for Progress co-host the Metascience Working Group, which aims to build connective tissue between participating science funders (government agencies as well as private philanthropies) and researchers. If you are interested in receiving feedback or support on an idea or proposal, please reach out here. We are very grateful to the Alfred P. Sloan Foundation for their support of the Metascience Working Group.
Opportunities for PhD students
Visiting PhD students at Dartmouth. Inspired by Dartmouth’s International Economics PhD Fellowship, I have the opportunity to host PhD students with interests in the economics of science and innovation at Dartmouth for academic quarter-length visits. These fellows receive a stipend, an office in the Economics department, and the opportunity to present their own research to faculty for feedback. There are no teaching or research assistant obligations associated with the position: fellows are simply expected to be active members of the Dartmouth community. To apply, please e-mail heidi.lie.williams@dartmouth.edu with a single PDF appending (1) a cover letter indicating the preferred academic term(s) of residence; (2) a CV; (3) a one-page (max) summary of your research interests. Preference will be given to students who can be in residence for a full academic quarter (Fall term: September 11, 2023 – November 22, 2023; Winter term: January 3 – March 12, 2024; Spring term: March 25, 2024 – June 4, 2024). There is no deadline.
PhD fellowships: Economic policy research with the Congressional support agencies. This program will support dissertation fellowships for PhD students in economics and economics-adjacent fields (such as health policy and public policy) who are interested in spending a year of their PhD doing economic policy research in collaboration with one of three non-partisan Congressional support agencies: the Congressional Budget Office (CBO), the Congressional Research Service (CRS), and the Medicare Payment Advisory Commission (MedPAC). Details of the program are available here. The deadline to apply is midnight EST on Thursday 29 February 2024. The review committee will consist of Doug Elmendorf, Zach Liscow, Donald Marron, Matthew Slaughter, and I. We are very grateful to the Alfred P. Sloan Foundation, Analysis Group, and the Aphorism Foundation for their support of this fellowship program.
Opportunities for research support
J-PAL’s Science for Progress Initiative (SfPI). J-PAL was instrumental in pushing forward society's understanding of what effective international development policy looks like, and how a field can learn to build up an effective evidence base for social change. We hope it can do the same for science. SfPI welcomes off-cycle proposals from J-PAL affiliates, J-PAL invited researchers (from any region or initiative), J-PAL postdoctoral fellows, J-PAL staff with a PhD, and PhD students with a J-PAL affiliate or invited researcher as an adviser. See the SfPI website for details; for applications requesting less than $75,000, Paul Niehaus and I (as SfPI co-chairs) aim to respond within two weeks of submission. In addition to financial support, applicants are welcome to request technical assistance from J-PAL North America's Research Management Support (RMS). Questions can be sent to sfpi@povertyactionlab.org, which will reach Elizabeth Graff and McKenzie Leier. We are very grateful to the Agency Fund, Open Philanthropy, Schmidt Futures, and the Alfred P. Sloan Foundation for their support of SfPI.
Fast Grants for STEM Talent Identification and Development. David Deming and I are co-leading a fast grants program focused on identifying and developing mathematical talent among youth. We're open to a broad set of proposals for research aimed at sending more individuals from more communities to the frontiers of science and technology . We will back eligible projects up to $75,000, and aim to respond within two weeks of submission. If you are not a researcher, but rather are a practitioner working in this space, please consider applying to this parallel initiative led by Tyler Cowen (Tyler and I each co-advise the other initiative). We strongly encourage applications from partnerships between researchers and practitioners -- for example, a team of researchers partnering with Art of Problem Solving to identify and nurture math talent -- and welcome such applications through either channel. We are very grateful to the Polynera Fund and two anonymous donors for their support of this initiative.
Surveys
Many of the basic institutions that fund and support science are very poorly understood. To the extent that “production functions” for science are studied, they are largely modeled as dollars coming in and research papers and new discoveries coming out. For example, the fact that most scientific research dollars fund principal investigators that run research labs, which themselves employ, manage, mentor, and train students and postdocs is essentially treated as a black box. Yet it seems obvious that any serious effort to improve the productivity of scientific research has to start with understanding these key institutions. Building on the World Management Survey – a large, international data-collection process that has enabled researchers to study the quality of organizational management practices – we are undertaking two surveys:
Pierre Azoulay, Matt Clancy, Patrick Collison, Paul Niehaus, Raffaella Sadun, Daniela Scur, John Van Reenen, Caleb Watney, and I are fielding a large-scale survey of culture and management practices in US-based biomedical research labs. We are very grateful to the Alfred P. Sloan Foundation for their support of this survey.
Lisa Ouellette, Kate Reinmuth, Daniela Scur, Caleb Watney, and I are fielding a large-scale survey of management practices in US university-based technology transfer offices.
Teaching materials
Online short course for PhD students on the economics of ideas, science, and innovation. In fall 2022, Pierre Azoulay, Matt Clancy, Ina Ganguli, Ben Jones, and I offered a (free) 6-week online short course for PhD students on the economics of ideas, science, and innovation. Slides for all of the lectures are available here. We are very grateful to the Institute for Progress for hosting this course.
Summer “camp” for PhD students on the economics of innovation. In each of summer 2022 and summer 2023, the National Bureau of Economic Research (NBER) hosted a one-week summer “camp” for PhD students on the economics of innovation. We are very grateful to Open Philanthropy for their support of this program.
In summer 2022, the camp was co-organized by Kevin Bryan, Ben Jones, and I; co-taught by Kevin, Ben, and I together with Pierre Azoulay, Chad Jones, Naomi Lamoreaux, and John Van Reenen; and included keynote lectures by Rebecca Henderson and Scott Stern. Slides for all of the lectures are available here.
In summer 2023, the camp was co-organized by Kevin Bryan, Ina Ganguli, Ben Jones, Kyle Myers, and I; co-taught by Kevin, Ina, Ben, Kyle, and I together with Pierre Azoulay, Chad Jones, and John Van Reenen; and included keynote lectures by Joel Mokyr and Ajay Agarwal. Slides for all of the lectures are available here.
We have funding to support at least one more year of the program, in Summer 2024.
Because the camp was over-subscribed (e.g. in summer 2022, we received over 150 applications for 25 funded slots in the program), we explicitly introduced an aspect of randomization in the final selection stage of our review process among applicants who were judged to be similarly promising; this randomization will hopefully afford us with an opportunity to try to better understand the impact of participating in the program [AEA RCT Registry ID AEARCTR-0009292].
Open-access course materials teaching the economics of innovation. Together with Kevin Bryan, I co-wrote a chapter for the 2021 Handbook of Industrial Organization on innovation policy. As a companion effort to that chapter, Kevin and I created an open-access set of lecture slides aimed at reducing the cost of others teaching this material. We designed these lecture slides to be modular, so that individual lectures could be used in a stand-alone fashion as part of a field course (e.g. a lecture on immigration and innovation that could be used as part of a labor economics course), but the lecture slides also fit together into a coherent framework for any faculty like myself who want to use them for a full course on the economics of innovation. Kevin and I taught an early version of this material in a 2021 Continuing Education course at the American Economic Association (AEA) meetings, and I taught this material in a Stanford PhD course (Economics 244: Market Failures and Public Policy).
Let me also recommend Matt Clancy's New Things Under the Sun.
Data
Posted here, and described in this README, are digitized versions of the US Food and Drug Administration (FDA)'s Orange Book patent and exclusivity tables for years 1985-2016 (no Orange Book was published in 1986). PDF versions of the Orange Books were obtained via a Freedom of Information Act (FOIA) request, and data from these PDF files was either hand-entered or parsed in order to create the digital files. For more details, including steps to add more recent years to the Orange Book data, see "The NBER Orange Book Dataset: A User's Guide," with Maya Durvasula, C. Scott Hemphill, Lisa Ouellette, and Bhaven Sampat. We are very grateful to the National Institute on Aging at the US National Institutes of Health, through grant P01AG005842 to the National Bureau of Economic Research (NBER), for their support of this data digitization effort.