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Economists in the PITS?

  • Bruno S. Frey

Academic economists today are caught in a “Publication Impossibility Theorem System” or PITS. To further their careers, they are required to publish in A-journals, but this is impossible for the vast majority because there are few slots open in such journals. Such academic competition is held to provide the right incentives for hard work, but there may be serious negative consequences: the wrong output may be produced in an inefficient way, the wrong people may be selected, and the losers may react in a harmful way. The paper suggests several ways for improvement.

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File URL: http://www.cesifo-group.de/portal/page/portal/DocBase_Content/WP/WP-CESifo_Working_Papers/wp-cesifo-2009/wp-cesifo-2009-03/cesifo1_wp2594.pdf
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Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 2594.

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Date of creation: 2009
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Handle: RePEc:ces:ceswps:_2594
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  1. Bruno S. Frey & Reiner Eichenberger & René L. Frey, 2009. "Editorial Ruminations: Publishing Kyklos," Kyklos, Wiley Blackwell, vol. 62(2), pages 151-160, 04.
  2. Stutzer, Alois & Frey, Bruno S., 2006. "Does marriage make people happy, or do happy people get married?," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 35(2), pages 326-347, April.
  3. Oswald, Andrew J., 2006. "An Examination of the Reliability of Prestigious Scholarly Journals: Evidence and Implications for Decision-makers," The Warwick Economics Research Paper Series (TWERPS) 744, University of Warwick, Department of Economics.
  4. Roland Benabou & Jean Tirole, 2003. "Intrinsic and Extrinsic Motivation," Review of Economic Studies, Wiley Blackwell, vol. 70(3), pages 489-520, 07.
  5. 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.
  6. Oswald, Andrew J., 2009. "World-Leading Research and its Measurement," The Warwick Economics Research Paper Series (TWERPS) 887, University of Warwick, Department of Economics.
  7. David N. Laband & Robert D. Tollison, 2003. "Dry Holes in Economic Research," Kyklos, Wiley Blackwell, vol. 56(2), pages 161-173, 05.
  8. Lazear, Edward P & Rosen, Sherwin, 1981. "Rank-Order Tournaments as Optimum Labor Contracts," Journal of Political Economy, University of Chicago Press, vol. 89(5), pages 841-64, October.
  9. Canice Prendergast, 1999. "The Provision of Incentives in Firms," Journal of Economic Literature, American Economic Association, vol. 37(1), pages 7-63, March.
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