An Auction Market for Journal Articles
Public Choice, Vol. 145, Nos. 3-4, pp. 379-403
Posted: 13 Nov 2009 Last revised: 2 Nov 2010
Date Written: November 10, 2009
We recommend that an auction market replace the current system for submitting academic papers and show a strict Pareto-improvement in equilibrium. Besides the benefit of speed, this mechanism increases the average quality of articles and journals and rewards editors and referees for their effort. The "academic dollar" proceeds from papers sold at auction go to authors, editors and referees of cited articles. This nonpecuniary income indicates the academic impact of an article - facilitating decisions on tenure and promotion. This auction market does not require more work of editors.
Keywords: Academic Journals, Academic Productivity, Market Design
JEL Classification: A11, D02, D44
Suggested Citation: Suggested Citation