NDLI: On Optimal Social Investment in the Sciences and Humanities

Content Provider	Springer Nature Link
Author	Gehrels, Franz
Copyright Year	2010
Abstract	This essay examines the optimization of public, non-profit investment in the natural and social sciences and humanities, given that the individual project outcomes are spread over time and are uncertain. The more distant the results, the greater is the uncertainty, as measured by the success-or-failure variance. Diversification into many simultaneous projects reduces but does not eliminate this risk. By contrast, in a deterministic, no-risk model, there is no way to optimize undertakings in pure science other than to accept social or political consensus. The commonly-used planners’ discount rate of zero is shown in the Appendix to have the additional property of leading to the Golden Rule.
Starting Page	325
Ending Page	330
Page Count	6
File Format	PDF
ISSN	01974254
Journal	Atlantic Economic Journal
Volume Number	38
Issue Number	3
e-ISSN	15739678
Language	English
Publisher	Springer US
Publisher Date	2010-06-09
Publisher Place	Boston
Access Restriction	One Nation One Subscription (ONOS)
Subject Keyword	Analysis of Collective Decision-Making: General Information, Knowledge, and Uncertainty: General Consumption, Saving, Production, Investment, Labor Markets, and Informal Economy: General National Government Expenditures and Related Policies: General Optimal Investment Sciences and Humanities Uncertainty Public Finance & Economics International Economics Microeconomics Macroeconomics/Monetary Economics Economics general
Content Type	Text
Resource Type	Article
Subject	Economics, Econometrics and Finance

Sl.	Authority	Responsibilities	Communication Details
1	Ministry of Education (GoI), Department of Higher Education	Sanctioning Authority	https://www.education.gov.in/ict-initiatives
2	Indian Institute of Technology Kharagpur	Host Institute of the Project: The host institute of the project is responsible for providing infrastructure support and hosting the project	https://www.iitkgp.ac.in
3	National Digital Library of India Office, Indian Institute of Technology Kharagpur	The administrative and infrastructural headquarters of the project	Dr. B. Sutradhar bsutra@ndl.gov.in
4	Project PI / Joint PI	Principal Investigator and Joint Principal Investigators of the project	Dr. B. Sutradhar bsutra@ndl.gov.in Prof. Saswat Chakrabarti will be added soon
5	Website/Portal (Helpdesk)	Queries regarding NDLI and its services	support@ndl.gov.in
6	Contents and Copyright Issues	Queries related to content curation and copyright issues	content@ndl.gov.in
7	National Digital Library of India Club (NDLI Club)	Queries related to NDLI Club formation, support, user awareness program, seminar/symposium, collaboration, social media, promotion, and outreach	clubsupport@ndl.gov.in
8	Digital Preservation Centre (DPC)	Assistance with digitizing and archiving copyright-free printed books	dpc@ndl.gov.in
9	IDR Setup or Support	Queries related to establishment and support of Institutional Digital Repository (IDR) and IDR workshops	idr@ndl.gov.in

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