Economists like competition but not when it comes to their own field of research

Economists advocate for competition in markets but exhibit a paradox in their own field, where research is increasingly concentrated among a few elite institutions. Recent research highlights that while top talent in most scientific disciplines is becoming more dispersed across universities, economics remains an exception. A significant proportion of Nobel laureates in economics are affiliated with just a handful of universities, primarily Harvard, Chicago, and MIT, which account for a disproportionate share of prestigious awards. This concentration is attributed to the mobility of economists, who can easily transition to top institutions without being tied to specific research facilities. Additionally, the field's emphasis on prestige leads to a dominance of high-status individuals and institutions, which can stifle diverse research agendas and foster groupthink. As the demand for innovative solutions to pressing economic issues grows, the current landscape raises concerns about the need for greater competition and diversity in economic research.

- Economics research is increasingly concentrated in a few elite universities.

- Nobel laureates in economics are predominantly from Harvard, Chicago, and MIT.

- The mobility of economists contributes to this concentration, unlike in other disciplines.

- The emphasis on prestige in economics may limit diverse research agendas.

- There is a growing need for competition and diversity in economic research to address significant economic questions.