ACCUMULATING KNOWLEDGE OVER THE ECONOMISTS LIFETIME

In this paper the reading behaviour of economists is examined to see w hether particular types of knowledge - basic and applied - imply diffe rent investment patterns. The reading intensity of papers containing a dvanced economics declines with 3 to 6 percent per year of experience, although researchers and economists with a mathematical background st art with a higher initial stock of knowledge of this type of literatur e. Investment in applied knowledge remains constant over time. Applied literature is not frequently read by mathematical economists, althoug h they catch up with their non-mathematical colleagues in 12 to 15 yea rs time. Besides the nature of knowledge, institutional incentives see m to matter. First, business and government economists concentrate on applied literature and news magazines. Second, the introduction of 'Am erican' style graduate schools in Dutch academia has not brought about a fundamental change in the reading of advanced literature, but there are some signs that 'American' style PhDs are turning away from the l ocally applied economic literature.