Fame and the Fortune of Academic Economists: How the Market Rewards Influential Research in Economics
We analyze the pay and position of 1,009 faculty members who teach in doctoral-granting economics departments at fifty-three large public universities in the United States. Using the Web of Science, we have identified the journal articles published by these scholars and the number of times each of these articles has been subsequently cited in published research articles. We find that research influence, as measured by various measures of total citations, is a surprisingly strong predictor of the salary and the prestige of the department in which professors are employed. We also examine how coauthorship is rewarded by the market.
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- Arthur M. Diamond Jr., 1986. "What is a Citation Worth?," Journal of Human Resources, University of Wisconsin Press, vol. 21(2), pages 200-215.
- Ransom, Michael R, 1993. "Seniority and Monopsony in the Academic Labor Market," American Economic Review, American Economic Association, vol. 83(1), pages 221-233, March.
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- Moore, William J & Newman, Robert J & Turnbull, Geoffrey K, 1998. "Do Academic Salaries Decline with Seniority?," Journal of Labor Economics, University of Chicago Press, vol. 16(2), pages 352-366, April.
- Daniel B. Klein & Eric Chiang, 2004. "The Social Science Citation Index: A Black Boxâ€”with an Ideological Bias?," Econ Journal Watch, Econ Journal Watch, vol. 1(1), pages 134-165, April.
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