Earlier quoted context omitted.
why is it that no one wants to study the effects of nootropics?
I have two hypotheses that came to mind when I read your question: 1. It’s a hard problem to quantify effects on cognitive functioning provided by nootropic supplements. We still have so much to learn about brain function; 2. Nootropics offer patent holders opportunities to make obscene amounts of money. As long as those supplements are (generally) safe to consume. That level of review requires R&D spending, but too…
For example, look at the N-back test for working memory. This is popular in the nootropics community, and is widely used in clinical pharmacology research. There are plenty of other tests. Scientists do experiments like "measure how impaired you are on alcohol vs. antihistamines" to compare impairment profiles from different modes of drug action.
You can measure impairment from sleep deprivation, alcohol, etc., so of course you can measure improvement in attention, reaction speed, working memory, spatial reasoning, and so on.
The difficulty with quantifying effects is not that we need to learn about brain function to know how to measure them, it's that nootropics have quite small effect sizes, if any.
I think it's entirely about 2 -- large studies are expensive, and unless your effect size is enormous you need a large study to detect it.