A theory of self-selection in a market with matching frictions: An application to delay in refereeing times in economics journals
A matching market with imperfect information is studied. With imperfect information, it is shown that friction in a meeting process can facilitate self-selection and thus may improve the matching outcome. As an application, the effect of delay in refereeing time on publication outcome is analyzed in a publication process in economics journals. Though the delay causes efficiency loss by postponing the dissemination of new research, it will better sort the papers to each journal by their qualities by preventing mediocre papers from being submitted to a prestigious journal and published by luck. If an assortative outcome (good papers in prestigious journals and mediocre papers in less prestigious journals) is efficient, the delay may actually improve the publication outcome. Other matching market examples are also discussed.
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.:
- Ofer H. Azar, 2007.
"The Slowdown In First-Response Times Of Economics Journals: Can It Be Beneficial?,"
Western Economic Association International, vol. 45(1), pages 179-187, January.
- 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.
- Ofer H. Azar, 2004. "Rejections and the importance of first response times," International Journal of Social Economics, Emerald Group Publishing, vol. 31(3), pages 259-274, March.
- Trivedi, Pravin K, 1993. "An Analysis of Publication Lags in Econometrics," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 8(1), pages 93-100, Jan.-Marc.
- Chakraborty, Archishman & Citanna, Alessandro & Ostrovsky, Michael, 2010. "Two-sided matching with interdependent values," Journal of Economic Theory, Elsevier, vol. 145(1), pages 85-105, January.
- Alessandro Citanna & Archishman Chakraborty & Michael Ostrovsky, 2010. "Two-sided matching with interdependent values," Post-Print hal-00463247, HAL.
- Chade, Hector, 2006. "Matching with noise and the acceptance curse," Journal of Economic Theory, Elsevier, vol. 129(1), pages 81-113, July.
- Ken Burdett & Melvyn G. Coles, 1997. "Marriage and Class," The Quarterly Journal of Economics, Oxford University Press, vol. 112(1), pages 141-168.
- Becker, Gary S, 1973. "A Theory of Marriage: Part I," Journal of Political Economy, University of Chicago Press, vol. 81(4), pages 813-846, July-Aug..
- David N. Laband, 1990. "Is There Value-Added from the Review Process in Economics?: Preliminary Evidence from Authors," The Quarterly Journal of Economics, Oxford University Press, vol. 105(2), pages 341-352.
- Derek Leslie, 2005. "Are Delays in Academic Publishing Necessary?," American Economic Review, American Economic Association, vol. 95(1), pages 407-413, March.
- 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.
- Glenn Ellison, 2000. "The Slowdown of the Economics Publishing Process," NBER Working Papers 7804, National Bureau of Economic Research, Inc.
- James D. Montgomery, 1991. "Equilibrium Wage Dispersion and Interindustry Wage Differentials," The Quarterly Journal of Economics, Oxford University Press, vol. 106(1), pages 163-179.
- Yohe, Gary W, 1980. "Current Publication Lags in Economics Journals," Journal of Economic Literature, American Economic Association, vol. 18(3), pages 1050-1055, September.
- 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. Full references (including those not matched with items on IDEAS)