Objective Research Funding? An Approach to quantify the Value of Experiments
The distribution of research funds is clearly
not based on purely objective criteria. Most countries have different ways of
how to deal with this issue – all face different, but serious problems. Bruce Knuteson (MIT)
has developed a formula of
which he claims is able to estimate the scientific merit that a proposed
experiment will give back per monetary unit before
we actually perform it. Knuteson’s formula
estimates the gain to be obtained by a proposed experiment in terms of the reduction in information entropy the experiment is
expected to provide. This is a seductive concept: Large scientific projects,
think of ITER at Cadarache or the Large Hadron Collider at CERN – cost the public a lot of money. The ‘right’
distribution of research money is thus not only of interest to promote the future success of
scientific research, but also of larger societal interest. The Swiss newspaper Neue
Zürcher Zeitung (NZZ) reports on Knuteson’s formula. Can it really help to
provide objective and rational criteria for funding the right type of research?
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