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A theory of citations

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  • Olszewski, Wojciech

Abstract

We propose a model in which researchers maximize the number of times they are cited in later papers. The equilibrium is inefficient, because researchers distort their effort toward writing on popular topics. This inefficiency is affected by various factors, policies and customs. We explored the effect of a variety of such factors. In particular, we argue that the inefficiency is likely to be higher in disciplines (areas of research) in which talent is uniform across topics rather than more topic specific. We also determine conditions under which assigning a higher weight to citations in papers published in higher-ranked journals enhances efficiency.

Suggested Citation

  • Olszewski, Wojciech, 2020. "A theory of citations," Research in Economics, Elsevier, vol. 74(3), pages 193-212.
    • Handle: RePEc:eee:reecon:v:74:y:2020:i:3:p:193-212
    DOI: 10.1016/j.rie.2020.06.001
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    References listed on IDEAS

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    1. Diamond, Peter A. & Stiglitz, Joseph E., 1974. "Increases in risk and in risk aversion," Journal of Economic Theory, Elsevier, vol. 8(3), pages 337-360, July.
    2. Glenn Ellison, 2013. "How Does the Market Use Citation Data? The Hirsch Index in Economics," American Economic Journal: Applied Economics, American Economic Association, vol. 5(3), pages 63-90, July.
    3. Ignacio Palacios-Huerta & Oscar Volij, 2004. "The Measurement of Intellectual Influence," Econometrica, Econometric Society, vol. 72(3), pages 963-977, May.
    4. Motty Perry & Philip J. Reny, 2016. "How to Count Citations If You Must," American Economic Review, American Economic Association, vol. 106(9), pages 2722-2741, September.
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