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An Auction Market for Journal Articles

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Author Info
Prufer, J.
Zetland, D. (Tilburg University, Center for Economic Research)

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Abstract

Economic articles are published very slowly. We believe this results mainly from the poor incentives referees face. We recommend that an auction market replace the current system for submitting papers and demonstrate a strict Pareto-improvement of equilibrium. Besides the benefits of speed, this mechanism increases the average quality of articles and journals and rewards editors and referees for their effort. In addition, the "academic dollars" for papers sold at auction go to the authors, editors and referees of cited articles. This income indicates academic productivity (facilitating decisions on tenure and promotion); its recirculation to journals further stimulates quality competition.

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Publisher Info
Paper provided by Tilburg University, Center for Economic Research in its series Discussion Paper with number 2007-79.

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Date of creation: 2007
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Handle: RePEc:dgr:kubcen:200779

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  1. Andrew J. Oswald, 2007. "An Examination of the Reliability of Prestigious Scholarly Journals: Evidence and Implications for Decision-Makers," Economica, London School of Economics and Political Science, vol. 74(293), pages 21-31, 02. [Downloadable!] (restricted)
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  2. Hamermesh, Daniel S, 1994. "Facts and Myths about Refereeing," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 153-63, Winter. [Downloadable!] (restricted)
  3. Milgrom, Paul, 1989. "Auctions and Bidding: A Primer," Journal of Economic Perspectives, American Economic Association, vol. 3(3), pages 3-22, Summer. [Downloadable!] (restricted)
  4. Ted Bergstrom, 2001. "Free Labor for Costly Journals," University of California at Santa Barbara, Economics Working Paper Series 2001C, Department of Economics, UC Santa Barbara. [Downloadable!]
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  5. Henk W. Plasmeijer, 2002. "Pricing the serials library: in defence of a market economy," Journal of Economic Methodology, Taylor and Francis Journals, vol. 9(3), pages 337-357, November. [Downloadable!] (restricted)
  6. Glenn Ellison, 2002. "The Slowdown of the Economics Publishing Process," Journal of Political Economy, University of Chicago Press, vol. 110(5), pages 947-993, October. [Downloadable!] (restricted)
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  7. Daniel B. Klein & Eric Chiang, 2004. "The Social Science Citation Index: A Black Box—with an Ideological Bias?," Econ Journal Watch, Atlas Economic Research Foundation, vol. 1(1), pages 134-165, April. [Downloadable!]
  8. Varian, Hal R, 1997. "The AEA's Electronic Publishing Plans: A Progress Report," Journal of Economic Perspectives, American Economic Association, vol. 11(3), pages 95-104, Summer. [Downloadable!] (restricted)
  9. Klemperer, P., 1999. "Auction Theory: a Guide to the Literature," Economics Papers 1999-w12, Economics Group, Nuffield College, University of Oxford.
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  10. Oster, Sharon, 1980. "The Optimal Order for Submitting Manuscripts," American Economic Review, American Economic Association, vol. 70(3), pages 444-48, June.
  11. Gans, Joshua S & Shepherd, George B, 1994. "How Are the Mighty Fallen: Rejected Classic Articles by Leading Economists," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 165-79, Winter. [Downloadable!] (restricted)
  12. Paul Klemperer, 2002. "What Really Matters in Auction Design," Journal of Economic Perspectives, American Economic Association, vol. 16(1), pages 169-189, Winter. [Downloadable!] (restricted)
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  13. Glenn Ellison, 2007. "Is Peer Review in Decline?," NBER Working Papers 13272, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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