EXPERT FUNNEL: Everybody Knows Something; No One Knows Everything
The expert funnel, a phenomenon where the number of experts decreases as the level of expertise increases, has significant implications. It is an example of information asymmetry in our world: the more specific the knowledge, the fewer individuals possess it. {INFORMATION ASYMMETRY, HETEROGENEITY}
The funnel is critical in funding and evaluating research, as the more specific the topic, the fewer people can meaningfully judge it. As progress in science demands specialization, the person with maximum knowledge about a particular subject might be the only person with this amount of expertise. The question is: Who can review such a person’s output competently and evaluate this person’s suggestions and grant applications?
This leads us to a paradox, which we can term The Last Man Standing paradox. The more people who can provide feedback, the better it is for knowledge. However, the more specific the knowledge, the fewer people can offer meaningful feedback and verify the usefulness of this knowledge.
The phenomenon is ubiquitous and can cause pronounced problems in other fields. If money can buy the best experts in finance and law, will it not be possible to insulate those with a lot of money and power from the scrutiny of the less privileged people?