A Model of the Editorial Process in Scientific Journals

69 Pages Posted: 15 Mar 2012 Last revised: 11 Jun 2014

See all articles by Onur Bayar

Onur Bayar

University of Texas at San Antonio, College of Business

Thomas J. Chemmanur

Boston College - Carroll School of Management

Date Written: November 1, 2013

Abstract

We theoretically analyze the editorial process in scientific journals. In our model, a journal editor maximizes his journal’s expected payoff from publishing high quality papers, net of costs due to (mistakenly) publishing low quality papers. The editor, with a prior probability assessment regarding paper quality, may choose to obtain additional costly evaluations from (one or two) referees. Referees are either "generalists" (neutral to the paper) or "experts," with more precise signals than generalists, but with a bias (positive or negative) toward the paper. We develop several policy implications for the editorial process in scientific journals and research grant proposal reviews.

Keywords: Editorial process; Peer review; Scientific journals; Entrepreneurial finance.

JEL Classification: A14; D83; L26; G24.

Suggested Citation

Bayar, Onur and Chemmanur, Thomas J., A Model of the Editorial Process in Scientific Journals (November 1, 2013). Available at SSRN: https://ssrn.com/abstract=2022540 or http://dx.doi.org/10.2139/ssrn.2022540

Onur Bayar

University of Texas at San Antonio, College of Business ( email )

The University of Texas at San Antonio
One UTSA Circle
San Antonio, TX 78249
United States
210-458-6837 (Phone)
210-458-6320 (Fax)

Thomas J. Chemmanur (Contact Author)

Boston College - Carroll School of Management ( email )

Finance Department, 436 Fulton Hall
Carroll School of Management, Boston College
Chestnut Hill, MA 02467-3808
United States
617-552-3980 (Phone)
617-552-0431 (Fax)

HOME PAGE: http://https://www2.bc.edu/thomas-chemmanur/

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