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How Should Research Performance Be Measured? Evidence From Rankings Of Academic Economists

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Author Info
Henrekson, Magnus () (Dept. of Economics, Stockholm School of Economics)
Waldenström, Daniel () (Research Institute of Industrial Economics (IFN))

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Abstract

Billions of euros are allocated every year to university research. Increased specialisation and international integration of research and researchers has sharply raised the need for comparisons of performance across fields, institutions and individual researchers. However, there is still no consensus regarding how such rankings should be conducted and what output measures are appropriate to use. We rank all full professors in a particular discipline, economics, in one European nation using seven established, and some of them commonly used, measures of research performance. Our examination shows both that the rank order can vary greatly across measures, and that depending on the measure used the distribution of total research out-put is valued very differently. The renowned KMS measure in economics stands out among the measures analysed here. It exhibits the weakest correlation with the others used in our study. We conclude by giving advice to funding councils and others assessing research quality on how to think about the use of both quantitative and qualitative measures of performance.

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Publisher Info
Paper provided by Stockholm School of Economics in its series Working Paper Series in Economics and Finance with number 693.

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Length: 29 pages
Date of creation: 04 Mar 2008
Date of revision:
Handle: RePEc:hhs:hastef:0693

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Related research
Keywords: Impact of research; Ranking; Research productivity; Bibliometrics; Impact Factor;

Find related papers by JEL classification:
A11 - General Economics and Teaching - - General Economics - - - Role of Economics; Role of Economists
A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
B41 - Schools of Economic Thought and Methodology - - Economic Methodology - - - Economic Methodology

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
  1. Michel Lubrano & Luc Bauwens & Alan Kirman & Camelia Protopopescu, 2003. "Ranking Economics Departments in Europe: A Statistical Approach," Journal of the European Economic Association, MIT Press, vol. 1(6), pages 1367-1401, December. [Downloadable!] (restricted)
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  2. David N. Laband & Robert D. Tollison, 2003. "Dry Holes in Economic Research," Kyklos, Blackwell Publishing, vol. 56(2), pages 161-173, 05. [Downloadable!] (restricted)
  3. Dusansky, Richard & Vernon, Clayton J, 1998. "Rankings of U.S. Economics Departments," Journal of Economic Perspectives, American Economic Association, vol. 12(1), pages 157-70, Winter. [Downloadable!] (restricted)
  4. Pantelis Kalaitzidakis & Theofanis P. Mamuneas & Thanasis Stengos, 2003. "Rankings of Academic Journals and Institutions in Economics," Journal of the European Economic Association, MIT Press, vol. 1(6), pages 1346-1366, December. [Downloadable!] (restricted)
    Other versions:
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