Working Paper: NBER ID: w19445
Authors: George J. Borjas; Kirk B. Doran
Abstract: Knowledge generation is key to economic growth, and scientific prizes are designed to encourage it. But how does winning a prestigious prize affect future output? We compare the productivity of Fields medalists (winners of the top mathematics prize) to that of similarly brilliant contenders. The two groups have similar publication rates until the award year, after which the winners' productivity declines. The medalists begin to "play the field," studying unfamiliar topics at the expense of writing papers. It appears that tournaments can have large post-prize effects on the effort allocation of knowledge producers.
Keywords: Fields Medal; scientific output; productivity; mathematicians; cognitive mobility
JEL Codes: J22; J24; J33; O31
Edges that are evidenced by causal inference methods are in orange, and the rest are in light blue.
| Cause | Effect |
|---|---|
| Winning the Fields Medal (C93) | Increase in leisure consumption (D12) |
| Winning the Fields Medal (C93) | Shift in research focus towards less familiar topics (Z19) |
| Winning the Fields Medal (C93) | Heightened sense of professional reputation (J44) |
| Winning the Fields Medal (C93) | Greater propensity for cognitive mobility (J62) |
| Greater propensity for cognitive mobility (J62) | Decline in productivity of mathematicians (O49) |
| Winning the Fields Medal (C93) | Decline in productivity of mathematicians (O49) |