 Economics of scientific knowledge

The economics of scientific knowledge refers to the study of how economic principles and structures impact the production, dissemination, and utilization of scientific knowledge. It involves understanding the various factors that influence research and development (R&D), the allocation of resources for scientific inquiry, and the ways in which scientific knowledge contributes to economic growth and innovation. Key aspects of the economics of scientific knowledge include: 1. **Investment in R&D**: This examines how firms, governments, and institutions allocate resources to research and development.