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Can incentives for research harm research? A business schools' tale

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  • Besancenot, Damien
  • Vranceanu, Radu

Abstract

This paper develops a simple model of the market for academic publications in business and economics. The supply of papers is presented as the outcome of a game between researchers and schools' deans under imperfect information about the quality of a given paper. The demand for papers brings into the picture the editorial selection process. After defining the equilibrium of this market, the model allows us to study the consequences of more powerful incentives for publication in major journals. It turns out that too large bonuses, as implemented by business schools in the recent years, might bring about several unpleasant consequences, such as a drop in the quality of major journals, a decline in the number of top-tier publications realized by leading research institutions and a fall in the expected compensation of top researchers.

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Bibliographic Info

Article provided by Elsevier in its journal Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics).

Volume (Year): 37 (2008)
Issue (Month): 3 (June)
Pages: 1248-1265

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Handle: RePEc:eee:soceco:v:37:y:2008:i:3:p:1248-1265

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Web page: http://www.elsevier.com/locate/inca/620175

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References

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  1. Glenn Ellison, 2000. "The Slowdown of the Economics Publishing Process," NBER Working Papers 7804, National Bureau of Economic Research, Inc.
  2. Oswald, Andrew J., 2006. "An Examination of the Reliability of Prestigious Scholarly Journals: Evidence and Implications for Decision-makers," The Warwick Economics Research Paper Series (TWERPS) 744, University of Warwick, Department of Economics.
  3. Henderson, Glenn Jr. & Ganesh, Gopala K. & Chandy, P. R., 1990. "Across-discipline journal awareness and evaluation: Implications for the promotion and tenure process," Journal of Economics and Business, Elsevier, vol. 42(4), pages 325-351, November.
  4. Daniel S. Hamermesh, 1994. "Facts and Myths about Refereeing," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 153-163, Winter.
  5. Mark J. McCabe & Christopher M. Snyder, 2005. "Open Access and Academic Journal Quality," American Economic Review, American Economic Association, vol. 95(2), pages 453-459, May.
  6. Akerlof, George A, 1970. "The Market for 'Lemons': Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, MIT Press, vol. 84(3), pages 488-500, August.
  7. Glenn Ellison, 2002. "Evolving Standards for Academic Publishing: A q-r Theory," Journal of Political Economy, University of Chicago Press, vol. 110(5), pages 994-1034, October.
  8. Christiana E. Hilmer & Michael J. Hilmer, 2005. "How Do Journal Quality, Co-Authorship, and Author Order Affect Agricultural Economists' Salaries?," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 87(2), pages 509-523.
  9. Ofer H. Azar, 2005. "The Review Process in Economics: Is it Too Fast?," General Economics and Teaching 0503013, EconWPA.
  10. Azar, Ofer H., 2002. "The slowdown in first-response times of economics journals: Can it be beneficial?," MPRA Paper 4478, University Library of Munich, Germany.
  11. Hodgson, Geoffrey M & Rothman, Harry, 1999. "The Editors and Authors of Economics Journals: A Case of Institutional Oligopoly?," Economic Journal, Royal Economic Society, vol. 109(453), pages F165-86, February.
  12. Faria, Joao Ricardo, 2005. "Is there a trade-off between domestic and international publications?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 34(2), pages 269-280, March.
  13. Steve Swidler & Elizabeth Goldreyer, 1998. "The Value of a Finance Journal Publication," Journal of Finance, American Finance Association, vol. 53(1), pages 351-363, 02.
  14. Stigler, George J & Stigler, Stephen M & Friedland, Claire, 1995. "The Journals of Economics," Journal of Political Economy, University of Chicago Press, vol. 103(2), pages 331-59, April.
  15. Tom Coupé, 2004. "What Do We Know about Ourselves? on the Economics of Economics," Kyklos, Wiley Blackwell, vol. 57(2), pages 197-215, 05.
  16. Engers, Maxim & Gans, Joshua S, 1998. "Why Referees Are Not Paid (Enough)," American Economic Review, American Economic Association, vol. 88(5), pages 1341-49, December.
  17. Faria, Joao Ricardo, 2002. "Scientific, business and political networks in academia," Research in Economics, Elsevier, vol. 56(2), pages 187-198, June.
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Citations

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Cited by:
  1. Besancenot, Damien & Huynh, Kim & Vranceanu, Radu, 2006. "The "Read or Write" Dilemma in Academic Production: A European Perspective," ESSEC Working Papers DR 06021, ESSEC Research Center, ESSEC Business School.
  2. repec:hal:wpaper:halshs-00589186 is not listed on IDEAS
  3. Radu Vranceanu & Damien Besancenot & Kim Huynh, 2010. "A Matching Model of the Academic Publication Market," Post-Print hal-00554710, HAL.
  4. repec:hal:cepnwp:halshs-00370785 is not listed on IDEAS
  5. Jellal, Mohamed & Faria, Joao & Elaoufi, Noureddine, 2012. "Endogenous dynamic academic research culture," MPRA Paper 38711, University Library of Munich, Germany.
  6. repec:hal:wpaper:halshs-00241259 is not listed on IDEAS
  7. Besancenot, Damien & Vranceanu, Radu, 2014. "A model of scholarly publishing with hybrid academic journals," ESSEC Working Papers WP1406, ESSEC Research Center, ESSEC Business School.
  8. João Faria & Rajeev Goel, 2010. "Returns to networking in academia," Netnomics, Springer, vol. 11(2), pages 103-117, July.
  9. Damien Besancenot & Kim Huynh & Joao Faria, 2012. "Search and research: the influence of editorial boards on journals’ quality," Theory and Decision, Springer, vol. 73(4), pages 687-702, October.
  10. Besancenot, Damien & Faria, Joao Ricardo & Vranceanu, Radu, 2008. "Why Business Schools Do So Much Research: A Signaling Explanation," ESSEC Working Papers DR 08002, ESSEC Research Center, ESSEC Business School.
  11. repec:hal:wpaper:halshs-00382585 is not listed on IDEAS
  12. Besancenot, Damien & Faria, João Ricardo, 2010. "Good research and bad teaching? A business school tale," Research in Economics, Elsevier, vol. 64(2), pages 67-72, June.
  13. repec:hal:wpaper:halshs-00370785 is not listed on IDEAS

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