An Auction Market for Journal Articles

Economic articles are published very slowly. We believe this results from the poor incentives referees face. We recommend that an auction market replace the current, push system for submitting papers and demonstrate that our proposed market has a stable, Pareto-improving equilibrium. Besides the benefits of speed, this pull mechanism increases the quality of articles and journals and rewards referees for their effort. Although the auction price gives a prior on a paper's future value, its actual value|as a published article|depends on later citations. Since the auction price of later papers goes to the editors, authors and referees of earlier, cited articles, "auction earnings" give a direct measure of the value of articles, journals (the sum of articles) and academics - as authors, editors and reviewers - rewarding good writing, decisions and effort, respectively.Academic Journals;Academic Productivity;Market Design.

An Auction Market for Journal Articles

Economic articles are published very slowly. We believe this results mainly from the poor incentives referees face. We recommend that an auction market replace the current system for submitting papers and demonstrate a strict Pareto-improvement of equilibrium. Besides the benefits of speed, this mechanism increases the average quality of articles and journals and rewards editors and referees for their effort. In addition, the "academic dollars" for papers sold at auction go to the authors, editors and referees of cited articles. This income indicates academic productivity (facilitating decisions on tenure and promotion); its recirculation to journals further stimulates quality competition.Academic Journals;Academic Productivity;Market Design. JEL codes

Teaching water economics by building problem-based case studies

Academic economists have many insights to contribute to water management at all scales. These contributions need to be placed in local institutional contexts and reconciled with insights from other disciplines if they are to affect policy, action, and evaluation. Case studies offer a useful way to organize different lines of thinking in the classroom or the field. This article reviews these factors—academic vs. practical perspectives; economic vs. other disciplines—and provides a framework for teaching water economics by building problem-based case studies.Global Challenges (FGGA

Living with water scarcity: scarcity is a perception. Shortage is a fact

Do you worry that there is not enough water for people, the economy and environment? Do you wonder if the water in our taps and rivers is safe or polluted? Do you want to know if farmers waste water, utilities charge too much, or bottled water destroys ecosystems? You're not alone in asking questions. The headlines say "drought, pollution, conflict and insecurity," but the stories don't offer any solutions. Living with Water Scarcity clarifies the connections among personal and social water flows in an accessible style. It describes the origins and costs of water scarcity and explains how to address it with fair and pragmatic policies. You and your community can live with water scarcity -- just manage water as the precious resource it is.Global Challenges (FGGA

Water Civilization: The Evolution of the Dutch Drinking Water Sector

Dutch drinking water companies now deliver safe affordable water to the entire population, but this result was not planned. It emerged, rather, from an evolutionary process in which various pressures on the commons resulted in changes to drinking water systems that addressed old concerns but uncovered new problems. Our analytical narrative traces this problem-solution-new problem pattern through four eras in which a common-pool dilemma is addressed by a private-good solution (1850-1880), a club-good solution (1880-1910) and a public-good solution (1910-1950) before returning to a private-good solution in the last 1950-1990 era. Actions, like the dates just given, were not always exact or effective, as the process was shaped by changing social norms regarding the distribution of costs and benefits from improved water services. This Dutch history is unique, but its insights can help improve drinking water services elsewhere.Global Challenges (FGGA

The role of prices in managing water scarcity

Water scarcity turns into shortage when water supplies are mismatched with user demands. After clarifying the different social and private uses of water, I explain how to use prices to allocate treated ("utility") water among municipal and industrial users and untreated ("raw") water among irrigators. Assuming institutional capacity, successful management of water scarcity requires prices that constrain total demand and revenues that cover the cost of reliable supply. Public acceptance of effective water pricing requires that policies protect the poor and the environment, i.e., policies that prioritize "social water" over water competitively allocated among economic uses.Global Challenges (FGGA

Living with water scarcity: scarcity is a perception. Shortage is a fact

Do you worry that there is not enough water for people, the economy and environment? Do you wonder if the water in our taps and rivers is safe or polluted? Do you want to know if farmers waste water, utilities charge too much, or bottled water destroys ecosystems? You're not alone in asking questions. The headlines say "drought, pollution, conflict and insecurity," but the stories don't offer any solutions. Living with Water Scarcity clarifies the connections among personal and social water flows in an accessible style. It describes the origins and costs of water scarcity and explains how to address it with fair and pragmatic policies. You and your community can live with water scarcity -- just manage water as the precious resource it is.</p

An auction market for journal articles

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