Tried by One’s Peers: How Effective are Open Systems in Academia?

By Craig Farrell Freedman, Alexander Blair and Alison Vicary.

Published by The Organization Collection

Format Price
Article: Print $US10.00
Article: Electronic $US5.00

Open systems as an alternative property rights system have been achieving a more notable presence over the last decade. The question arises as to how effective such systems are in encouraging the production and dissemination of information. A long standing forerunner of such systems is the refereed journal where the quality of such information is judged by one’s peers. What however insures that a system of referred journals works well? The responsibility seems not to lie in the prevailing governance structure. The largely non-profit form which characterizes these journals insures a lack of accountability. Editors and referees are not provided with simple incentives to perform their intended roles well. Survey material indicates that in fact editors exert little if any control over the referees employed. However, contrary to expectations, referees are generally conceded to perform at a high level. What drives the process is not narrow self-interest but rather professional obligation.

Keywords: Open Systems, Economic Journals, Accountability, Non-profit Organizations, Referees

The International Journal of Knowledge, Culture and Change Management, Volume 7, Issue 1, pp.107-114. Article: Print (Spiral Bound). Article: Electronic (PDF File; 554.679KB).

Dr. Craig Farrell Freedman

Associate Professor, Economics Department, Macquarie University, Sydney, New South Wales, Australia

Associate Professor – Macquarie University; Director – Centre for Japanese Economic Studies.

Alexander Blair

Associate Lecturer, Economics Department, Macquarie University, Sydney, New South Wales, Australia

Alison Vicary

Associate Lecturer, Economics Department, Macquarie University, Sydney, New South Wales, Australia


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