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The distribution of article quality and inefficiencies in the market for scientific journals

Author

Listed:
  • Philipp Kohlgruber

    (University of Graz, Austria)

  • Christoph Kuzmics

    (University of Graz, Austria)

Abstract

We build an oligopoly model of the market of scientific journals that allows us to relate the (in-)efficiency of this market to the exogenous distribution of article quality. Journal quality is endogenously determined by the submission choices of scientists. The efficiency of any stable equilibrium depends crucially on the exogenous distribution of article quality, especially on the fatness of the upper tail. For the empirically plausible Pareto distribution the market is inefficient even in the limit as the number of publishers tends to infinity.

Suggested Citation

  • Philipp Kohlgruber & Christoph Kuzmics, 2017. "The distribution of article quality and inefficiencies in the market for scientific journals," Graz Economics Papers 2017-11, University of Graz, Department of Economics.
    • Handle: RePEc:grz:wpaper:2017-11
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    References listed on IDEAS

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    More about this item

    Keywords

    Oligopoly; Natural monopoly; Efficiency; Price competition; Endogenous product differentiation;
    All these keywords.

    JEL classification:

    • C72 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Noncooperative Games
    • C73 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory - - - Stochastic and Dynamic Games; Evolutionary Games
    • D43 - Microeconomics - - Market Structure, Pricing, and Design - - - Oligopoly and Other Forms of Market Imperfection
    • L13 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Oligopoly and Other Imperfect Markets
    • L15 - Industrial Organization - - Market Structure, Firm Strategy, and Market Performance - - - Information and Product Quality
    • L82 - Industrial Organization - - Industry Studies: Services - - - Entertainment; Media

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