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Markets for Reputation: Evidence on Quality and Quantity in Academe

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  • Hamermesh, Daniel S.

    ()
    (University of Texas at Austin, Royal Holloway)

  • Pfann, Gerard A.

    ()
    (Maastricht University)

Abstract

We 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 Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 4610.

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Length: 41 pages
Date of creation: Dec 2009
Date of revision:
Publication status: published as 'Reputation and Earnings: The Roles of Quality and Quantity in Academe' in: Economic Inquiry, 2012, 50 (1), 1 - 16
Handle: RePEc:iza:izadps:dp4610

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Keywords: salary determination; quality/quantity trade-off; mobility;

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  11. Tirole, J., 1993. "A Theory of Collective Reputations with Applications to the Persistence of Corruption and to Firm Quality," Working papers, Massachusetts Institute of Technology (MIT), Department of Economics 93-13, Massachusetts Institute of Technology (MIT), Department of Economics.
  12. Steven Tadelis, 2002. "The Market for Reputations as an Incentive Mechanism," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 110(4), pages 854-882, August.
  13. Aloysius Siow, 1991. "Are First Impressions Important in Academia?," Journal of Human Resources, University of Wisconsin Press, vol. 26(2), pages 236-255.
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Cited by:
  1. Matteo Migheli & Giovanni B. Ramello, 2014. "Open Access Journals & Academics’ Behaviour," ICER Working Papers, ICER - International Centre for Economic Research 03-2014, ICER - International Centre for Economic Research.
  2. Hofmeister Robert & Krapf Matthias, 2011. "How Do Editors Select Papers, and How Good are They at Doing It?," The B.E. Journal of Economic Analysis & Policy, De Gruyter, De Gruyter, vol. 11(1), pages 1-23, October.
  3. Oswald, Andrew J., 2009. "A Suggested Method for the Measurement of World-Leading Research (Illustrated with Data on Economics)," IZA Discussion Papers 4313, Institute for the Study of Labor (IZA).
  4. Glenn Ellison, 2010. "How does the Market Use Citation Data? The Hirsch Index in Economics," CESifo Working Paper Series 3188, CESifo Group Munich.
  5. KRAPF, Matthias & SCHLÄPFER, Jörg, 2012. "How Nobel Laureates Would Perform In The Handelsblatt Ranking," Regional and Sectoral Economic Studies, Euro-American Association of Economic Development, Euro-American Association of Economic Development, vol. 12(3).

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