Working Paper: NBER ID: w11799
Authors: Bruce A. Weinberg; David W. Galenson
Abstract: This paper studies life cycle creativity among Nobel laureate economists. We identify two distinct life cycles of scholarly creativity. Experimental innovators work inductively, accumulating knowledge from experience. Conceptual innovators work deductively, applying abstract principles. We find that conceptual innovators do their most important work earlier in their careers than experimental laureates. For instance, our estimates imply that the probability that the most conceptual laureate publishes his single best work peaks at age 25 compared to the mid-50s for the most experimental laureate. Thus while experience benefits experimental innovators, newness to a field benefits conceptual innovators.
Keywords: No keywords provided
JEL Codes: J24; O30; B31
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| conceptual innovators (O35) | younger age of significant contributions (B31) |
| experimental innovators (O36) | older age of significant contributions (J26) |
| type of innovation (O35) | timing of contributions (D64) |
| nature of work (J29) | stability of contributions (C62) |