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RESEARCH PRODUCT

On the Marketization of the Academic Review Process

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Pressure to change the academic reviewing system is growing. We discuss two groups of proposals for introducing market mechanisms. First, Prufer and Zetland (2009), based on Havrilesky (1975), create an auction system: manuscripts are submitted and auctioned to editors in "academic dollars", while citations earn credits for authors. Second, Fox and Petchey (2010), after Riyanto and Yetkiner (2002), create a "PubCred" currency, in which referees are paid and can then pay for their own submissions, while Aarssen (2008) and White and Ernest (2010) introduce hard cash remuneration for reviewers. These systems would adversely affect editors, referees, and authors alike, and would soon prove economically unworkable.