In the current climate characterized by scrutiny and control of science, it is not too surprising to encounter appeals to an “economics of science” that will serve to structure the inchoate impressions of the various constituencies involved, as well as to provide a basis for reasoned debate and guidance for public policy. This focused discussion piece lays the historical and discilpinary foundation for that debate.

Empirical reports on scientific competition show that scientists can be depicted as self-interested, strategically behaving agents. Nevertheless, we argue that recognition-seeking scientists will have an interest in establishing methodological norms which tend to select theories of a high epistemic value, and that these norms will be still more stringent if the epistemic value of theories appears in the utility function of scientists, either directly or instrumentally. (Published Online July 11 2006) Footnotes1 The author gratefully acknowledges financial support from DGI grant (...) BEC2002-03715 (Ministerio de Educación y Cultura). 2 The author gratefully acknowledges financial support from grants PB98-0495-C08-01 and BFF2002-03656 (Ministerio de Educación y Cultura). (shrink)