Working Paper
Specialization vs. Diversification: Research Strategy and Performance in Economics
Abstract: The tension between diversification and specialization is a central theme in economics, shaping discourse in fields as disparate as international trade, portfolio theory, and corporate scope. This paper examines this trade-off within the realm of research strategy. Using the RePEc panel database of approximately 60,000 economists, we demonstrate that the pursuit of a diversified research portfolio yields superior performance as measured by citations and publications as well as lower research attrition rates. This advantage applies to both senior and, in contrast to conventional wisdom, early-career researchers. This strategy is significantly facilitated by joint work with new co-authors.
JEL Classification: D83; D85; J24; O31;
https://doi.org/10.20955/wp.2026.025
Access Documents
File(s):
File format is application/pdf
https://doi.org/10.20955/wp.2026.025
Description: Full text
Bibliographic Information
Provider: Federal Reserve Bank of St. Louis
Part of Series: Working Papers
Publication Date: 2026-11-04
Number: 2026-025