A mathematical framework that builds on the economic theory of hidden-action models provides insight into how the unobservable nature of effort and risk shapes investigators’ research strategies and the incentive structures within which they work, according to a study published August 15 in PLOS Biology by Kevin Gross from North Carolina State University, U.S., and Carl Bergstrom from the University of Washington, U.S.
Why do researchers often prefer safe over risky projects? Explaining risk aversion in science
