Markets for Reputation: Evidence on Quality and Quantity in Academe
AbstractWe develop a theory of the market for individual reputation, an indicator of regard by one’s peers and others. The central questions are: 1) Does the quantity of exposures raise reputation independent of their quality? and 2) Assuming that overall quality matters for reputation, does the quality of an individual’s most important exposure have an extra effect on reputation? Using evidence for academic economists, we find that, conditional on its impact, the quantity of output has no or even a negative effect on each of a number of proxies for reputation, and very little evidence that a scholar’s most influential work provides any extra enhancement of reputation. Quality ranking matters more than absolute quality. Data on mobility and salaries show, on the contrary, substantial positive effects of quantity, independent of quality. We test various explanations for the differences between the determinants of reputation and salary.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 7603.
Date of creation: Dec 2009
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Other versions of this item:
- Hamermesh, Daniel S. & Pfann, Gerard A., 2009. "Markets for Reputation: Evidence on Quality and Quantity in Academe," IZA Discussion Papers 4610, Institute for the Study of Labor (IZA).
- Daniel S. Hamermesh & Gerard A. Pfann, 2009. "Markets for Reputation: Evidence on Quality and Quantity in Academe," NBER Working Papers 15527, National Bureau of Economic Research, Inc.
- J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
- L14 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Transactional Relationships; Contracts and Reputation
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