Robin probably regrets using the word "cheap" in regard to entry as
this has clearly confused some people. As Robin later pointed out he
meant "cheap" to mean the journal industry approximates the economic
concept of free entry (more than many other industries we all think of
as competitive).
Now, I hope that none of us would say that the market for
restaurants is not competitive because it costs about $250,000 to start
a new restaurant and therefore entry is expensive. Yet some comments
regarding entry into the journal market make exactly this mistake.
By the way, the journal market has exploded in recent decades with
many entrants.
Thus, if one is going to complain about the output of the journal
market one should look at the preferences of its customers. A parallel
I have noted in other context is that sometimes people trained in the
Buchanan style of constitutional economics think that all that is
required to get better policy is that we change the rules of the game
when in truth sometimes there is no choice but to change the preferences
of the players.
Thus when Pete says "Change the nature of the way resarch is published
and presented and the research game will change within the academy."
Well of course! Who would deny that? :) But the "nature of the way
research is published and presented" is a dependent not an independent
variable!
Alex
--
Dr. Alexander Tabarrok
Vice President and Director of Research
The Independent Institute
100 Swan Way
Oakland, CA, 94621-1428
Tel. 510-632-1366, FAX: 510-568-6040
Email: [EMAIL PROTECTED]
