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How to Measure Keynesian Beauty Contests for Academic Research

The Fast Grants granters surveyed their grantees on an analogous query:

In our survey of the scientists who received Fast Grants, 78% said that they would change their research program “a lot” if their existing funding could be spent in an unconstrained fashion.

1Alex Gray2yThanks! I like this answer a lot since it suggests a nice/easy quantitative version of the question: If your existing funding could be spent in an unconstrained fashion, what fraction of grant dollars would you spend significantly differently? I think this scales between 0% (== fully aligned) and 100% (==totally different) research in a pretty straightforward way. It only captures the "grant dollars" part of the original question (and not, e.g., deciding on a specialization in order to get a better chance at a tenure track position, or changing research in order to get a higher chance of getting past journal reviewers), but that's still pretty valuable.

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sismail2y2

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2Emerson Spartz2yAhh, didn't know it was linked to karma. Thanks!