Espinosa, Miguel and Rondon, Carlos and Romero, Mauricio (2012): The use of mathematics in economics and its effect on a scholar's academic career.
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Abstract
There has been so much debate on the increasing use of formal methods in Economics. Although there are some studies tackling these issues, those use either a little amount of papers, a small amount of scholars or a short period of time. We try to overcome these challenges constructing a database characterizing the main sociodemographic and academic output of a survey of 438 scholars divided into three groups: Economics Nobel Prize winners; scholars awarded with at least one of six worldwide prestigious economics recognitions; and academic faculty randomly selected from the top twenty economics departments. We give statistical evidence on the increasing trend of number of equations and econometric outputs per article, showing that for each of these variables there have been four structural breaks and three of them have been increasing ones. Therefore, we provide concrete measures of mathematization in Economics. Furthermore, we found that the use and training in mathematics has a positive correlation with the probability of winning a Nobel Prize in certain cases. It also appears that being an empirical researcher as measured by the average number of econometrics outputs has a negative correlation with someone's academic career success.
Item Type:  MPRA Paper 

Original Title:  The use of mathematics in economics and its effect on a scholar's academic career 
Language:  English 
Keywords:  Nobel Prize, Mathematics, Economics, Reputation 
Subjects:  N  Economic History > N0  General > N01  Development of the Discipline: Historiographical; Sources and Methods B  History of Economic Thought, Methodology, and Heterodox Approaches > B3  History of Economic Thought: Individuals C  Mathematical and Quantitative Methods > C1  Econometric and Statistical Methods and Methodology: General > C14  Semiparametric and Nonparametric Methods: General C  Mathematical and Quantitative Methods > C8  Data Collection and Data Estimation Methodology; Computer Programs > C81  Methodology for Collecting, Estimating, and Organizing Microeconomic Data 
Item ID:  41341 
Depositing User:  Miguel Espinosa 
Date Deposited:  15. Sep 2012 00:30 
Last Modified:  12. Feb 2013 20:14 
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URI:  http://mpra.ub.unimuenchen.de/id/eprint/41341 
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