Some of you may be interested in an article (106 pages) on the economics of lab accidents.
Here's the abstract:
The Returns to Physical Capital in Knowledge
Production: Evidence from Lab Disasters
Stefano Baruffaldi (a), Fabian Gaessler (b)
a University of Bath
b Max Planck Institute for Innovation and Competition, Munich
August 29, 2021
ABSTRACT
We establish the importance of physical capital in knowledge production. To this end, we exploit adverse events (explosions, fires, floods, etc.) at research institutions as exogenous physical capital shocks. Scientists experience a substantial and persistent reduction in research output if they lose specialized physical capital, that is, equipment and material they created over time for a particular research purpose. In contrast, they quickly recover if they only lose generic physical capital. Affected scientists in older laboratories, which presumably lose more obsolete physical capital, are more likely to change their direction of research and recover in scientific productivity.
These findings suggest that a scientist's investments into their own physical capital yield lasting returns but also create path dependence in relation to research direction.
James A. Kaufman, PhD
Founder/President
Emeritus
The
Laboratory Safety Institute (LSI)
A Nonprofit Educational Organization for Safety in Science, Industry, and
Education
192
Worcester Street, Natick, MA 01760-2252
(O) 508-647-1900 (F) 508-647-0062 (C) 508-574-6264 Skype: labsafe; 508-401-7406
jim**At_Symbol_Here**labsafety.org www.labsafety.org Teach,
Learn, and Practice Science Safely
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