PLANCKS PRINCIPLE REVISITED - A NOTE

Conventional wisdom holds that scientists' receptivity to new ideas declines as they age. This proposition, known as 'Planck's Principle', has typically been studied using legit models which do not control for censored data. To see if this potential problem affects the results, we have re-tested the proposition, using data from an earlier study with a semiparametric hazard rate model that controls for censored data. We find thai: the earlier studies' refutation of Planck's Principle is robust to this variation in econometric method.