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Peer review versus citations – An analysis of best paper prizes

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  • Coupé, Tom

Abstract

In this paper, I analyze the ‘best paper’ prizes given by economics and finance journals to the best article published in their journal in a given year. More specifically, I compare the citations received by best paper prize-winning papers to citations received by papers that are awarded runner up prizes and to citations received by non-winning papers. In this way, I evaluate to what extent evaluation outcomes based on peer review correspond to evaluation outcomes based on citation counts. The data show that the paper that gets the ‘best paper’ prize, is rarely the most cited paper; is, in a small majority of cases, cited more than the runner up papers and is, in most cases, cited more than the median paper. I also explore whether characteristics of the prizes or the papers correlate with this difference in outcomes between peer review and citation counts and find there is no easy way to reduce the difference in outcomes between these two evaluation methods

Suggested Citation

  • Coupé, Tom, 2013. "Peer review versus citations – An analysis of best paper prizes," Research Policy, Elsevier, vol. 42(1), pages 295-301.
  • Handle: RePEc:eee:respol:v:42:y:2013:i:1:p:295-301
    DOI: 10.1016/j.respol.2012.05.004
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    References listed on IDEAS

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    1. Bornmann, Lutz & Marx, Werner & Schier, Hermann & Rahm, Erhard & Thor, Andreas & Daniel, Hans-Dieter, 2009. "Convergent validity of bibliometric Google Scholar data in the field of chemistry—Citation counts for papers that were accepted by Angewandte Chemie International Edition or rejected but published els," Journal of Informetrics, Elsevier, vol. 3(1), pages 27-35.
    2. Glenn Ellison, 2002. "Evolving Standards for Academic Publishing: A q-r Theory," Journal of Political Economy, University of Chicago Press, vol. 110(5), pages 994-1034, October.
    3. Broder, Ivy E, 1993. "Professional Achievements and Gender Differences among Academic Economists," Economic Inquiry, Western Economic Association International, vol. 31(1), pages 116-127, January.
    4. Valerie Smeets & Frédèric warzynski & Tom Coupé, 2006. "Does the Academic Labor Market Initially Allocate New Graduates Efficiently?," Journal of Economic Perspectives, American Economic Association, vol. 20(3), pages 161-172, Summer.
    5. Beggs, S. & Cardell, S. & Hausman, J., 1981. "Assessing the potential demand for electric cars," Journal of Econometrics, Elsevier, vol. 17(1), pages 1-19, September.
    6. Joshua S. Gans & George B. Shepherd, 1994. "How Are the Mighty Fallen: Rejected Classic Articles by Leading Economists," Journal of Economic Perspectives, American Economic Association, vol. 8(1), pages 165-179, Winter.
    7. Blank, Rebecca M, 1991. "The Effects of Double-Blind versus Single-Blind Reviewing: Experimental Evidence from The American Economic Review," American Economic Review, American Economic Association, vol. 81(5), pages 1041-1067, December.
    8. Daniel S. Hamermesh & Peter Schmidt, 2003. "The Determinants of Econometric Society Fellows Elections," Econometrica, Econometric Society, vol. 71(1), pages 399-407, January.
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    Cited by:

    1. V. Ginsburgh & Sheila Weyers, 2014. "Nominees, winners, and losers," Journal of Cultural Economics, Springer;The Association for Cultural Economics International, vol. 38(4), pages 291-313, November.
    2. Ho Fai Chan & Bruno S. Frey & Jana Gallus & Benno Torgler, 2013. "Does the John Bates Clark Medal boost subsequent productivity and citation success?," ECON - Working Papers 111, Department of Economics - University of Zurich.
    3. 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, vol. 11(1), pages 1-23, October.
    4. Daniel S. Hamermesh, 2015. "Citations in Economics: Measurement, Uses and Impacts," NBER Working Papers 21754, National Bureau of Economic Research, Inc.

    More about this item

    Keywords

    Peer review; Citations; Academic quality; Performance evaluation;

    JEL classification:

    • A - General Economics and Teaching

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