ARTÍCULO DE INVESTIGACIÓN

ARTÍCULO DE INVESTIGACIÓN

Predicting the impact of American Economic
Review articles by author characteristics

Tolga Yuret

Departamento de Economía, Istanbul Technical University, Istanbul, Pavo

un acceso abierto

diario

Palabras clave: author-related factors, prejuicios, citation analysis, predictive factors

Citación: Yuret, t. (2022). Predicting the
impact of American Economic Review
articles by author characteristics.
Estudios de ciencias cuantitativas, 3(1),
227–243. https://doi.org/10.1162
/qss_a_00180

DOI:
https://doi.org/10.1162/qss_a_00180

Revisión por pares:
https://publons.com/publon/10.1162
/qss_a_00180

Recibió: 13 Agosto 2021
Aceptado: 2 December 2021

Autor correspondiente:
Tolga Yuret
tyuret@gmail.com

Editor de manejo:
Juego Waltman

Derechos de autor: © 2022 Tolga Yuret.
Publicado bajo Creative Commons
Atribución 4.0 Internacional (CC POR 4.0)
licencia.

La prensa del MIT

ABSTRACTO

Authors who publish in American Economic Review (AER) have career paths confined to a few
prestigious institutions, and they mostly have exceptional past publication performance. En esto
paper, I show that authors who are educated and work in the top 10 institutions and have
better past publication performance receive more citations for their current AER publications.
Authors who have published in the top economic theory journals receive fewer citations
even after controlling for the subfield of their AER article. The gender of the authors, years of
post-PhD experience, and the location of the affiliated institution do not have any significant
effect on the citation performance. An opportunistic editor can exploit the factors that
are related to citation performance to substantially improve the citation performance of
the journal. Such opportunistic behavior increases the overrepresentation of authors with
certain characteristics. Por ejemplo, an opportunistic editor who uses the predicted citation
performance of articles to select a quarter of the articles increases the ratio of authors who
works at the top 10 institutions from 30.8% a 52.0%.

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1.

INTRODUCCIÓN

Most authors who publish in top economics journals have similar academic backgrounds.
They are educated in and work at a few elite institutions. There are many reasons why having
experience at a prestigious institution may help authors to publish in top journals. Mayoría
coauthors are either current or past coworkers, so having productive coworkers may facilitate
publishing in top journals (Yuret, 2020). It is also more likely that an author from an elite insti-
tution has ties with the journal editor, which is an important factor for an article to be accepted
(Colussi, 2018).

Another possible reason why most authors who publish in top economics journals work at a
few prestigious institutions is that the journals may improve their impact by accepting more
articles from authors who work at elite institutions. Asimismo, the journals can improve their
impact by accepting articles that are written by authors with other characteristics that indicate
a higher citation potential.

en este documento, I have two aims. Primero, I want to identify the author characteristics that are
strongly correlated with the citation performance of American Economic Review (AER) artículos.
En particular, I want to see whether the prevalent author characteristics, such as being
affiliated with one of the top 10 institutions, are strongly and positively related to the citation
actuación. Segundo, I want to see whether a hypothetical opportunistic editor can substan-
tially improve the citation performance of AER by using the predicted citation performance. En

Predicting the impact of American Economic Review articles

this way, I want to see whether the opportunistic behavior increases the concentration of cer-
tain author characteristics.

I use a General Linear Model with Logarithm to analyze the effect of author characteristics
on the number of citations that AER articles receive. The continent of the institution where the
authors work and their past publication productivity are examples of the author characteristics
that I include. In addition to the author characteristics, I include a few article-related factors
that are easily observed and have a clear impact on citation performance, such as the month of
the issue that the article is published in.

Próximo, I perform simulations where two types of opportunistic editors try to optimize the
average citation performance of the journal. The opportunistic editor with perfect foresight
has perfect information regarding the future citation performance of the articles and selects
better performing articles. The opportunistic editor who uses the regression results computes
the predicted citation performance of the articles to select the articles that have better expected
actuación.

In the simulations, I try to see whether large improvements can be attained by opportunistic
editores. Además, I try to see whether the lack of perfect foresight benefits authors who have
characteristics that are already overrepresented. In this way, I provide an additional perspec-
tive to interpret the regression results.

2. RELATED LITERATURE

There is a large literature on the factors that affect the number of citations that an article
receives. Tahamtan, Afshar, and Ahamdzadeh (2016) present a comprehensive literature
review by classifying the research on this topic into three categories. The first category
includes paper-related factors, such as characteristics of titles and choice of topic. El segundo
category includes journal-related factors, such as the Journal Impact Factor and the language
of the journal. The third category includes author-related factors, such as the author’s reputa-
tion and gender.

I focus on the effect of author characteristics on citation performance, so this paper mainly
belongs to the third category. I only study the citation performance of a single journal so there
are no journal-related factors in my analysis. Although my focus is on the author characteris-
tics, I include a few paper-related factors that are easily observed and have a clear effect on the
citation performance of an article.

A paper-related factor that I analyze is the month in which an article is issued. Articles that
are published in the early months of the year have more time to be recognized, so they receive
more citations than articles published in later months of the year. The effect is demonstrated
for the citation performance in the first 3 years after publication by a study that analyzes all
journals indexed in the Web of Science (Donner, 2018). A diferencia de, another study that focuses
on information science articles claims that the month of the issue is not important because of
the improved access in the digital age (Xie, Gong et al., 2019).

The publication year of the articles is another paper-related factor that I analyze. Porque
I use the same 2-year citation window for all the articles, the number of years in which
articles receive citations does not change. Sin embargo, the number of citations that journals
receive in a given year increases over the years (Petersen, Pan et al., 2019). Por esta razón,
the publication year is an important determinant for citation performance, even for a specific
2-year window.

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Predicting the impact of American Economic Review articles

Subdiscipline is another important paper-related factor that affects the number of citations
that an article receives. Empirical economics articles typically receive more citations than the-
oretical economics articles (Johnston, Piatti, & Torgler, 2013). A diferencia de, empirical papers
receive fewer citations than theoretical papers in psychology (Buela-Casal, Zych et al.,
2009). There is evidence that subdiscipline categories other than the empirical-theoretical
divide are also important for the number of citations that an article receives in economics
(Medoff, 2003), y matemáticas (Smolinsky & Lercher, 2012).

I include the subdiscipline of an article both as a paper-related factor and as an author-
related factor. For the paper-related approach, I judge whether the papers are theoretical or
empirical. For the author-related approach, I use a dummy variable that indicates whether
authors have ever published in the top three theoretical economics journals.

Trimble and Ceja (2013) find that authors from the United States and Europe receive more
citations in astrophysics. Por supuesto, the geography and quality of institutions are related, como
most prestigious institutions are in either North America or Europe. chan, Guillot et al.
(2015) find that authors from high-ranking institutions get more citations for their Econometrica
and AER publications, and Amara, Landry, and Halilem (2015) find that authors from high-
ranking Canadian business schools receive more citations than authors from low-ranking
Canadian business schools. Sin embargo, authors from top institutions do not necessarily receive
more citations in all academic fields. Por ejemplo, Haslam, Ban et al. (2008) conclude that
psychologists from high-ranking institutions do not get more citations than psychologists from
low-ranking institutions.

It is natural to expect that the past citation performance of authors is a good predictor of
their current citation performance. A group of studies support this relation for economists
(Medoff, 2003), physicists (Wang, Fan et al. 2019), and various fields of science (Onodera
& Yoshikane, 2015). It is less clear why authors who published many papers in the past receive
more citations. Card and DellaVigna (2020) find that more productive economists receive
more citations. Lindahl (2018) claims that productive mathematicians also receive more cita-
ciones, but the effect is clearer for those who publish at top journals. Hurley, Ogier, and Torvik
(2013) also find that productivity affects citation performance; sin embargo, the effect is not sig-
nificant when other factors such as authors’ past citation performance are also considered.

There is no consensus on whether the gender of authors is an important factor for citation
actuación. Nunkoo, Hall et al. (2019) find that men receive significantly more citations than
women in the tourism field, whereas Hengel and Moon (2020) find that women receive sig-
nificantly more citations than men in economics. Nielsen (2017) could not find any significant
gender effects for management journals. Thelwall (2020) analyzes citation performance in 27
academic fields and shows that whether or not women have a higher citation performance
depends on the academic field.

Another inconclusive issue is the effect of the number of authors on the number of citations.
Kosteas (2018) finds that the number of authors is a significant factor that affects citations in
economics. Levitt (2015) also finds that the number of authors and the number of citations are
positively related in economics, but the effect is only valid for articles with fewer than three
autores. Bornmann, Schier et al. (2012) do not find any significant relationship between the
number of authors and citations of an article for chemistry journals.

The closest to this study is Hamermesh (2018), which analyzes most of the author charac-
teristics included in this paper and uses data from AER and four other top economics journals.
The study finds that there is no significant difference between men and women in citation
actuación, but it is found that more senior authors, authors with better past publication

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Predicting the impact of American Economic Review articles

actuación, authors from top institutions, and articles with more coauthors receive more cita-
ciones. Sin embargo, the study considers each factor affecting citation performance in isolation. En
contrast, I run a regression including all the factors and use its results to perform simulations
to show the effect of author characteristics on the citation performance from an additional
perspectiva.

This paper is also related to opportunistic editorial practices. Martín (2016) summarizes the
common editorial misconduct that tries to enhance the citation performance of journals. El
editors force authors to cite papers from their journals; they form journal cartels, where journal
A cites journal B, and journal B cites journal A; and they create an online queue of accepted
documentos, so they can choose the papers that are developing a better citation performance to
publish.

There are some opportunistic editorial practices to boost citation performance that cannot
be classified as unethical. Por ejemplo, it is known that positive and strong results are more
easily published. Franco, Malhotra, and Simonovits (2014) analyze all the projects in a pres-
tigious sponsored program in social sciences, and they show that if the results are not signif-
icant and positive, the results are not likely to be written up, and the papers are not likely to be
published if written. The null results are not published, possibly because of their low expected
citation performance. The fact that stronger results get more citations is called citation bias
(Fanelli, costas, & Ioannadis, 2017).

Editors may choose not to publish articles in certain subfields of economics because of their
citation performance. Por ejemplo, there are few replication experiments (Andrews & Kasy,
2019) in the top economics journals. It is also known that heterodox papers are not published
in the top economics journals (Earl & Peng, 2012). This may be due to the fact that heterodox
articles do not receive many citations from mainstream articles (Sotavento, 2012).

Editorial decisions are not made by the editor alone: The editorial team is important. Card
and DellaVigna (2020) find that editors closely follow referee decisions for economics
journals. They also note that the referee recommendations correlate strongly with the citation
performance of the papers. Naturalmente, the editors have some discretion. Por ejemplo, ellos
follow the recommendations of the referees who are more productive more closely, a pesar de
referees who are less productive have equally good performance in predicting the citation
actuación.

3. DATA

en este documento, I focus on the citation performance of AER articles because there is considerable
evidence that AER is the top economics journal. A survey among a large group of economists
concludes that respondents see AER as the top economics journal (Axarloglou & Theoharakis,
2003). Many studies that rank economics journals by citation analysis also rank AER as the top
economics journal (Kalaitzidakis, Mamuneas, & Stengos, 2011).

I collected information about AER articles and their authors. I used data from Web of
Ciencia, Econ-Lit, and biographies obtained from the internet. The description and the source
of the data, and the interpretation of their summary statistics are given as follows.

3.1. Article-Related Factors (Rows 1–5 in Table 1)

I collected the article-related factors of all AER articles that were published between 2008
y 2017 from the Web of Science. The citation performance of articles in AER is considerably
higher than that of other types of publications in AER. Por lo tanto, I only considered regular

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Predicting the impact of American Economic Review articles

Mesa 1.

Summary statistics

Row No.

Variables

Article-level variables:

1

2

3

4

5

Two-year impact

Number of authors

Year published

Month issued

Dummy for theoretical articles

Author-level variables:

No. de
observaciones

Significar

Estándar
desviación

1,052

1,052

1,052

1,052

1,052

12.0

13.5

2.33

2012.7

7.12

0.94

2.81

3.46

0.248

0.432

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Women

2,453

0.156

0.363

Dummy variables for the continent of the author’s affiliated institution

North America

Europa

Rest of the World

2,453

2,453

2,453

0.709

0.455

0.250

0.433

0.041

0.199

Dummy variables for the Quacquarelli Symonds rank of the author’s affiliated

institución

Top 10

Ranked between 11 y 50

Ranked below 50

2,453

2,453

2,453

0.280

0.433

0.300

0.459

0.419

0.493

Dummy variables for the years of post-PhD experience

Abajo 10 años

Between 11 y 25 años

Más que 25 años

PhD Top 10

No PhD

Average citations at top five journals

No publications at top five journals

Average publications in the last 4 años

Published in the top three theoretical

journals

2,453

2,453

2,453

2,453

2,453

2,453

2,453

2,453

2,453

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0.465

0.499

0.379

0.485

0.119

0.323

0.479

0.500

0.037

0.189

5.72

7.46

0.383

0.486

1.17

1.11

0.271

0.444

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

21

articles and excluded other types of publications, such as proceedings, editorials, corrections,
and comments. Hay 1,052 AER articles published in this period.

The first article-related factor is “2-year impact.” This variable corresponds to the number
of citations that an AER article that was published in year T receives in years T + 1 and T + 2.

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Predicting the impact of American Economic Review articles

I could not get a larger than 2-year citation window for all articles because I collected
citation data in July and August of 2020 and included articles from 2017. I did not want to
use different time windows for AER articles published in different years so as not to complicate
the analysis. Además, a 2-year window is also used for the Journal Impact Factor, cual es
a standard journal quality metric. Por último, there is clear evidence that short-term citation perfor-
mance is a very strong predictor for long-term citation performance in economics (Kosteas,
2018); therefore the conclusions of this analysis may not be restricted only to short-term
impacto.

The average citation performance per AER article is 12.0 citations for a 2-year window, como
seen in Table 1 (Fila 1). This number may seem small for a top field journal. Sin embargo, el
average number of citations that economics journals receive is smaller than that of many sci-
entific fields. According to Journal Citation Report 2017, a median economics journal has a
1.11 impact factor, whereas a median physics (multidisciplinary) journal has a 1.65 impacto
factor and a median chemistry (multidisciplinary) journal has a 2.20 impact factor.

The average number of authors per article is 2.33, as seen in Table 1 (Fila 2). Hamermesh
(2018) reports that the average number of authors in the top five economics journals is 2.01 para
publications in 2007 y 2008. The average number of authors in AER articles is also com-
parable to that of the typical publication in economics. Por ejemplo, Yuret (2015) reports that
the average number of authors for 2012 publications by all faculty members in US economics
departments is 2.10.

The last article-related variable is a dummy variable that indicates that the article is a the-
oretical article (Fila 5). This information is collected by skimming through the AER articles.
Around a quarter of the AER articles in my sample are theoretical.

3.2. Author’s Gender (Fila 6)

I obtained gender information from pictures in the authors’ internet biographies. This is not an
ideal method, as errors can be made during the process. I independently collected gender
information for randomly selected 245 (10% of the sample) authors without using picture
información. Most biographies do not contain direct gender information, so I mostly obtained
gender information from gender pronouns. I could deduce the gender of 224 (91% del
random sample). The gender information collected through pictures did not contain any errors
for these 224 autores. As I could obtain pictures of 100% of the authors, I used the gender
obtained from the pictures in the analysis.

I see from Table 1 (Fila 6) eso 15.6% of the authors are women. The low female ratio in
economics is not specific to the top journals. According to Hamermesh (2018), the ratio of
females that have higher than median post-PhD experience is as low as 9% in the top 30
economics departments.

3.3. Continent and Ranking of the Author’s Affiliated Institution (Rows 7–12 in Table 1)

I found the affiliated institution of the authors by analyzing the address information given by
the Web of Science record of the article. A simple internet search revealed the continent of the
affiliated institution. The rank of the institutions is taken from the 2020 Quacquarelli Symonds
(QS) economics rankings1.

1 Obtained from https://www.topuniversities.com/university-rankings/university-subject-rankings/2020

/economics-econometrics.

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Predicting the impact of American Economic Review articles

Mesa 1 shows that 70.7% of all authors work in North America (Fila 7), 25.0% de ellos
work in Europe (Fila 8), y solo 4.1% of the authors work in the rest of the world (Fila 9) en
the time of the publication. The concentration of authors in North America and Europe is
related to the number of top institutions in these continents. Seven out of the top 10 institutions
are in North America, y solo 12 institutions out of the top 50 are outside Europe and North
America according to QS 2020 economics rankings.

Mesa 1 shows that 28.0% of the authors work at the top 10 institutions (Fila 10), 30.0% de
the authors work at the institutions ranked 11 a 50 (Fila 11), y 41.9% of the authors work at
the institutions that are ranked below 50 (Fila 12). The high concentration of authors affiliated
with a few institutions is not unique to AER. Wu (2007) analyzes AER and two other journals
that are among the top five economics journals. The study finds that 34.3% of the pages in
AER, 47.2% of the pages in Journal of Political Economics, y 57.3% of the pages in Quar-
terly Journal of Economics are written by authors who are affiliated with the top 10 economics
departments for years 2000 a 2003.

I collected a sample of 100 articles that are written by 203 authors from five journals that
are ranked between 26 y 30 according to Kalaitzidakis et al. (2011) to see whether the
statistics from lower ranked journals are comparable to those of AER2. In this sample,
53.2% of the authors are from North America, 37.0% of the authors are from Europe, y
9.9% of the authors are from the rest of the world. En otras palabras, AER has more author affil-
iations from North America, and fewer author affiliations from Europe and the rest of the world
than that of the lower ranked journals. Además, solo 9.9% of the authors are from the top 10
institutions, 13.8% of the authors are from institutions ranked between 11 a 50, y 76.4%
of the authors are from institutions ranked below 50 in the lower ranked journals. Allá-
delantero, authors are much less concentrated in the top institutions in the lower ranked journals
compared to AER.

3.4. Author’s PhD Information (Rows 13–17 in Table 1)

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Yuret (2020) studied the social network of authors of the top five economics journals for the
same period as this study. The study includes PhD information that was obtained from internet
biographies. Por lo tanto, I obtained the PhD information from that study’s data set.

Mesa 1 shows that the authors are relatively young economists: 46.5% of the authors
obtained their PhDs less than 10 years ago (Fila 13). If I exclude 3.7% of authors who
did not get a PhD (Fila 17), the median post-PhD experience is 10. In my sample of
lower ranked journals, the median post-PhD experience is 11. Hamermesh (2018) finds that
the median post-PhD experience is 17 for the faculty members in the top 30 economics
departments. Por lo tanto, the post-PhD experience of AER authors is similar to that of the
authors of lower ranked journals but smaller than that of the faculty members in the top
economics departments.

Un total de 47.9% of the authors obtained their PhDs from the top 10 institutions, as can be
seen from Table 1 (Fila 16). This level of high concentration is not seen in the lower ranked
journals. In my sample of 203 authors from lower ranked journals, the ratio of authors who
obtained their PhDs from the top 10 institutions is 25.1%.

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2 Twenty articles from each of the following journals are selected randomly: Journal of Economic Growth,
Journal of Human Resources, Journal of Economic Dynamics & Control, Journal of Economic Behavior &
Organization, and Journal of Business & Estadísticas económicas.

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3.5. Author’s Citation Performance in Top 5 Publications (Rows 18–19 in Table 1)

I collected the authors’ citation performance for their past publications at the top five eco-
nomics journals from Web of Science3. If an author publishes an AER article in year T, I find
the citation performance of all of that author’s articles at the top five economics journals pub-
lished from 1980 to T − 1. I also used a 2-year window for citations received by past
publicaciones. The reason why I restrict past author citation performance to the top five eco-
nomics journals is twofold. Primero, I could not use an automated method to pick up citations
for a 2-year window, so handpicking citations from more journals was time consuming. Sec-
ond, I wanted to consider articles in journals that are of comparable quality to AER. Esto es
because an author may receive a considerably higher citation performance for publications in
the top journals than for those in more modest journals.

Mesa 1 shows that authors received on average 5.72 citations for their publications in the top
five economics journals in a 2-year window (Fila 18). This variable treats the average citation
performance of 38.3% of authors (Fila 19) who have never published in the top five economics
journals as zero. If I exclude them, then the average citation performance increases to 9.27.
This is still smaller than 12.0, which is the 2-year impact of the current AER publications
(Fila 1). This may be because the number of citations that articles receive increases in general
through years and past publications are naturally older than current AER publications.

3.6. Author’s Past Publication Information (Rows 20–21 in Table 1)

Econ-Lit covers more years and includes more economics journals than Web of Science.
Además, the index includes full names of authors for more years, so name confusion can
be kept at a minimum. Como se ha mencionado más arriba, the citation performance of authors in the top
five economics journals is obtained from the Web of Science. This is because Econ-Lit does
not have citation information.

I had Econ-Lit publication records of the authors in my sample because I have already
collected and cleaned the data for Yuret (2020). From these records, I obtained the publi-
cations in the last 4 años. Por ejemplo, for an AER article that is published in the year 2012,
I gathered all of the authors’ publications from years 2008 a 2011. Entonces, I divide the
number of the total publications by four to get a yearly average. I also deduced whether
an author has published any articles in the top three theoretical journals from the Econ-Lit
publication records4. Por ejemplo, for an AER article that is published in the year 2012, I
gathered the all of the authors’ publications from 1980 a 2011 and see whether there are
any articles in the top three theoretical journals.

Mesa 1 shows that AER authors publish an average of 1.17 artículos, which may seem to be
rather small (Fila 20). Sin embargo, this low performance is typical in economics. Yuret (2016)
shows that an average faculty member in the top 10 economics departments publishes 1.94
artículos, comparado con 1.24 articles in economics departments that are ranked between 11
y 25. The average performance decreases to 0.73 for faculty members in economics
departments that are ranked between 151 y 200. The study also reports that the publication
performance for chemists is at least five times more than that of economists.

3 Most economics journal rankings agree on the top five economics journals (Card & DellaVigna, 2013). El
list of these journals is (in alphabetical order) AER, Econometrica, Journal of Political Economy, Quarterly
Journal of Economics, and Review of Economic Studies.

4 I took the top three theoretical economics journals from the rankings in Kalaitzidakis et al. (2011). Estos

journals are Journal of Economic Theory, Games and Economic Behavior, and Economic Theory.

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Predicting the impact of American Economic Review articles

Mesa 2.

Empirical vs. theoretical AER articles by authors who have published at least one article in the top three theoretical journals

Author

No articles in top three theoretical journals

Empirical
1,569 (87.7 %)

Teórico
220 (12.3 %)

Total
1,789 (100 %)

AER Article (Fila 5)

At least one article in top three theoretical

351 (52.9 %)

313 (47.1 %)

664 (100 %)

journals (Fila 21)

Total

1,920 (78.2 %)

533 (21.8 %)

2,453 (100 %)

I see from Table 1 eso 27.1% of the authors had at least one article in the top three theo-
retical journals (Fila 21). I have already incorporated a dummy variable for the theoretical
artículos (Fila 5). Sin embargo, authors do not publish in a single subfield. Many theorists also take
a role in empirical projects. Mesa 2 demonstrates that there is no perfect correlation between
the subfield of the AER article and whether the author has published any papers in the top
three theoretical journals in the past. More than half of the authors who have published
in the top three theoretical journals publish an empirical AER paper. Alguno 12.3% del
authors who have not yet published in the top three theoretical papers publish a theoretical
AER article.

4. REGRESSION ANALYSIS

Deschacht and Engels (2014) list the regression methods in the literature that analyze the cita-
tion performance. Thelwall and Wilson (2014) conclude that the best performing regression
method to analyze citation performance is the General Linear Model with Logarithm because
the citation data is skewed. Por lo tanto, I use the General Linear Model with Logarithm for my
regression analysis.

Hay 1,052 artículos, written by 2,453 autores. If three authors write a paper, all article-
related variables would take the same value for these three observations. Por lo tanto, estos
observations are not independently and identically distributed (iid). Por esta razón, I clus-
tered standard errors at the article level. There are authors who publish more than one AER
article during the 10 years that I included. De hecho, hay 1,845 distinct authors who write
estos 1,052 artículos. Sin embargo, most author-level variables do not take the same value for the
same author. Post-PhD experience, affiliated institution, and publication records may be
different for the same author who publishes in different years. Sin embargo, las observaciones
with the same author would not be iid. Por lo tanto, I also report the standard errors that are
clustered at the author level.

I give my regression results in Table 3. The coefficients for article-related factors are all in
the expected direction and significant at 1% as seen in the first four rows of Table 3. Artículos
with more coauthors, published in a later year, and published in an early month in the year get
more citations. The theoretical articles get fewer citations than empirical articles. Como se discutio
en la sección 2, these results are largely consistent with the literature.

Also as discussed in Section 2, there is no consensus on citation performance by gender.
I see that there is no significant gender effect on citation performance in my regression
(Fila 5). The continent of the affiliated institution does not seem to matter for citation perfor-
mance (Rows 6 y 7)5. A diferencia de, the ranking of the institution matters. Authors from the

5 When I run the regression without other author-related factors, the North American affiliation is positive

and significant at 1%, but the result does not hold as more author-related controls are added.

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Predicting the impact of American Economic Review articles

Mesa 3.

Regression results (General Linear Model with Logarithm) Dependent Variable: ln(Two-year impact + 1)

Coefficients
0.126

Standard deviation
(article-level cluster)
0.024

Standard deviation
(author-level cluster)
0.015

Significance
***

Fila #
1

2

3

4

5

6

7

8

9

10

11

12

13

14

15

16

17

18

19

20

Variables

Number of authors

Year published

Month issued

Dummy variable for theoretical articles

Female

0.023

−0,056

−0.484

−0.068

0.009

0.006

0.062

0.043

Dummy variables for the continent of the author’s affiliated institution

North America

Rest of the world

0.021

−0.112

Dummy variables for the QS rank of the author’s affiliated institution

Top 10

Ranked below 50

0.148

−0.059

Dummy variables for the years of post-PhD experience

Abajo 10 años

Más que 25 años

PhD top 10

No PhD

Average citations at top five journals

No publications at top five journals

Average publications in the last 4 años

Published in the top three theoretical journals

Constant

R_squared

No. of observations

0.032

−0,010

0.148

−0.064

0.018

0.144

0.061

−0.168

−44.1

0.248

2453

0.050

0.080

0.043

0.043

0.040

0.055

0.037

0.091

0.003

0.053

0.018

0.046

0.006

0.005

0.044

0.041

0.039

0.070

0.040

0.038

0.038

0.055

0.040

0.090

0.003

0.049

0.010

0.042

***

***

***

***

***

***

***

***

***

***

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17.4

11.4

Notas: (i) Base categories are excluded to avoid dummy trap. Base categories are: “Dummy variable for the continent of the affiliated institution: Europa,"
“Dummy variable for the rank of the affiliated institution: Ranked between 11 and 50,” and “Post-PhD experience between 11 y 25 years”; (ii) *Significant
en 10%, **Significant at 5%, ***Significant at 1%; (iii) Standard errors are clustered at the article-level and author-level. The significance levels are the same for
both clusters.

arriba 10 institutions receive more citations (Fila 8). Sin embargo, there is no significant citation
performance effect for authors who work at institutions ranked below 50 (Fila 9).

There is no significant effect for the years of post-PhD experience (Rows 10 y 11).
Authors who obtained their PhD from the top 10 institutions receive significantly more cita-
ciones (Fila 12). This is even though I have other author-related controls such as the ranking of
their affiliated institution. There are no significant effects of not having a PhD (Fila 13).

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Predicting the impact of American Economic Review articles

All four publication performance variables are significant at 1%, as can be seen in Table 3
(Rows 14–17). Average citations that have been received by authors’ earlier top-five journal
publications are positively related to the citation performance of their current AER article
(Fila 14). It is interesting to note that authors who have not published in the top five journals
previously also have a higher citation performance on their current AER publication (Fila 15).
Por lo tanto, an author who does not have any experience publishing in the top five journals has
a higher expected citation performance than an author who has previously published in the
top five journals but attains low citation performance for these publications.

Mesa 3 shows that authors who have published more articles in the past 4 years receive
more citations (Fila 16). This is interesting because there are no quality adjustments for the
number of publications. Todavía, authors who have more publications receive more citations.
Although the reason for this relation is not obvious, similar results have been reported in pre-
vious studies (Card & DellaVigna, 2020).

Authors who have published at least one article in the top three theoretical journals receive
fewer citations than authors who do not have any such publications, como se puede ver desde
Mesa 3 (Fila 17). This is interesting because the subfield of the AER article is controlled for
(Fila 4). Por lo tanto, a theorist has significantly less citation performance even after controlling
for the subfield of the article.

The fitness level of the regression can be improved by considering additional article-related
características. Además, the fitness level may be low due to the fact that I am unable to
include some unobserved author characteristics. Por ejemplo, some authors may have better
writing skills, and this might improve their citation performance. Sin embargo, the focus of
the paper is the observable author-related factors, and I wonder why authors with certain
characteristics are more likely to publish in AER. Por ejemplo, I note that there is a high
concentration of authors affiliated with the top 10 institutions. My result, that their citation
performance is better, may serve as an explanation, despite the fact that the regression coef-
ficients may be biased due to observed and unobserved variables.

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5. SIMULATION
En esta sección, I present a simulation to show the extent to which AER’s average citation
performance can be improved if an opportunistic editor is biased towards authors who are
expected to receive more citations. It is obvious from the regression analysis that an opportu-
nistic editor can improve the citation performance by accepting proportionally more articles
from authors who are educated in and work at higher ranked institutions and have better past
publication performance. The simulation in this section shows exactly how much the citation
performance can be improved by an opportunistic editor. Además, the simulation shows the
degree to which authors with favorable backgrounds become more concentrated by an oppor-
tunistic policy. Por lo tanto, the main aim of the simulation exercise is to show the effects already
presented in the regression analysis more clearly.

I should note that the simulation in this section is a purely hypothetical exercise and I
do not claim that editors actually use policies to inflate their Journal Impact Factor. If they
use opportunistic policies to maximize the immediate citation potential of the journal, entonces
it would be detrimental to the prestige of the journal in the long term. It is totally fine if the
editors aim to accept better articles and these articles happen to have higher citation perfor-
mance, because the number of citations is a good proxy for quality. Sin embargo, if the editors
directly aim for the citation potential, researchers would not submit to a journal that does not
fairly judge the quality of their article. Sin embargo, the simulation exercise shows that there is

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Predicting the impact of American Economic Review articles

Article
A

B

C

D

Mesa 4.

An example for the simulation exercise

Two-year impact
10

Predicted citation performance
11

8

6

4

7

8

2

a temptation for an opportunistic editorial policy because the immediate citation improvement
by such a policy is substantial.

I consider two types of opportunistic editors. Primero, I consider the opportunistic editor who
has perfect foresight, so that the editor knows exactly the number of citations that an article
will receive before the article is accepted. Segundo, I consider the opportunistic editor who has
limited information. I reran the General Linear Model with Logarithm presented earlier in
the regression analysis section by restricting the sample for articles published from 2008 a
2014. Entonces, I use the coefficients to compute the predicted citation performance for articles
published from 2015 a 2017. Por lo tanto, the opportunistic editor uses the information by using
la primera 7 years of my sample to form expectations for the last 3 years of my sample. Por último, el
opportunistic editor simply takes the average of the predicted performance of authors to find
the predicted citation performance of the article6. Both types of editors select half and a quarter
of articles within each of the 3 años.

Mesa 4 gives a simple example of just four articles that were published in a single year to
demonstrate how the simulation works. I see from the second column of the table that the
total 2-year citation performance of four articles is 28, so the average citation performance is 7.
Let’s assume that the opportunistic editors select half of the articles. Then the opportunistic
editor who has perfect foresight would select articles A and B so that the average citation per-
formance increases to 9. The opportunistic editor who can only use the predicted perfor-
mances of the articles would pick A and C, so the average citation performance of the articles
increases to 8. In the simulation exercise, I also want to see what would happen if the oppor-
tunistic editor selects a quarter of the articles. Entonces, opportunistic editors select only one arti-
cle. En este caso, both types of opportunistic editor would select article A and have an average
citation performance of 10.

Cifra 1 shows the average 2-year citation performance of both types of opportunistic
editor. The first bar is the average citation performance of all articles that are published
entre 2015 y 2017, and this value is used as a benchmark. The second and third bars
give the average citation performance when half and a quarter of the articles are selected by an
opportunistic editor who has perfect foresight, respectivamente. The average citation performance
of the articles increases from 13.7 a 22.3 when half of the articles are selected and to 32.0
when a quarter of the articles are selected. En otras palabras, an opportunistic editor with perfect
foresight can improve the citation performance by 63.0% y 133.8% when selecting half or a
quarter of the articles, respectivamente.

6 There are more sophisticated methods to account for the expected performance of an article from the
expected performance of its authors (see Ahmadpoor & jones, 2019). Sin embargo, I prefer using the average
to keep the simulation exercise simple.

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Predicting the impact of American Economic Review articles

Cifra 1. Average 2-year impact of AER articles: no selection, half and a quarter of articles selected under perfect foresight, and half and a
quarter of articles selected by using predicted values.

The fourth and fifth bars of Figure 1 give the average citation performance of the articles
when half and a quarter of the articles are selected by the opportunistic editor who relies on
predicted values from regression results, respectivamente. The improvement is lower than the per-
fect foresight case, but it is still large. The average 2-year impacts are 17.7 y 18.4 cuando
half and a quarter of the articles are selected, respectivamente. Compared to the benchmark value
de 13.7, this corresponds to an increase of 28.9% y 34.2% when half and a quarter of the
articles are selected, respectivamente.

Cifra 2 shows that the ratio of authors who work at the top 10 institutions increases from
30.8% a 39.0% y 38.5% when half and a quarter of the articles are selected by an oppor-
tunistic editor with perfect foresight, respectivamente. The opportunistic editor increases the ratio
of the authors who work in the top 10 institutions even more when the predicted values are
usado. As I discussed at the end of the regression analysis section, there may be missing
observed and unobserved variables in the regression. Por lo tanto, the opportunistic editor has
to rely more on the author characteristics that I include, and this increases the representation
of authors with certain characteristics.

Cifra 3 shows the ratio of authors who work at institutions in North America. Un total de
69.7% of the authors work at institutions in North America in all AER publications between
2015 y 2017. This benchmark value shows a high level of concentration. Sin embargo, el

Cifra 2. Ratio of authors who work at top 10 institutions: no selection, half and a quarter of articles selected under perfect information, y
half and a quarter of articles selected by using predicted values.

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Predicting the impact of American Economic Review articles

Cifra 3. Ratio of authors who work in North America: no selection, half and a quarter of articles selected under perfect information, and half
and a quarter of articles selected by using predicted values.

authors are even more concentrated when half and a quarter of the articles are selected. El
ratio of authors who work in North American institutions increases to 84.7% when a quarter of
authors are selected by using predicted values.

En figura 4, I see that authors who have published in the top three theoretical journals are
represented less when half and a quarter of articles are selected to improve AER’s citation per-
rendimiento. The ratio of authors who have published at least one article in the top three theo-
retical journals decreases from 26.8 a 17.0% when half of the articles are selected, y
decreases to 12.6% when a quarter of articles are selected by the opportunistic editor with
perfect foresight. The ratio of authors who have theoretical publications becomes even smaller
when the opportunistic editor relies on predicted values. Por lo tanto, a policy that solely max-
imizes citation performance would exclude many authors who had theoretical publications in
their publication records.

Cifra 5 shows the ratio of female authors who publish in AER. Just 16.6% of authors are
female between 2015 y 2017; eso es, female authors are highly underrepresented. The ratio
of female authors increases slightly when half and a quarter of the publications are selected,
under both perfect insight and predicted performance. Por lo tanto, an opportunistic editorial
policy to improve citation performance of AER articles would increase the representation of
women in AER publications.

There are obvious limitations to the simulation results. I rely on accepted papers rather
than all submitted papers. The editor may learn about the citation performance of the rejected

Cifra 4. Ratio of authors who have published at least one paper in the top three theoretical journals: no selection, half, and a quarter of
articles selected under perfect foresight, and half and a quarter of articles selected by using predicted values.

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Predicting the impact of American Economic Review articles

Cifra 5. Ratio of female authors: no selection, half and a quarter of articles selected under perfect foresight, and half and a quarter of articles
selected by using predicted values.

papers and will have a better idea about the citation potential of any given article that I
sugerir. It is also the case that editors observe some variables that are unobservable to us.
Por ejemplo, the editor may see whether the subject matter of the article is popular. En esto
caso, the opportunistic editor’s selection may be different and citation performance improve-
ments may be less substantial than I suggest.

6. CONCLUSIÓN

I have demonstrated that there is a high concentration of authors who have excellent
academic backgrounds among the authors of AER. Entonces, I predicted the citation performance
by mainly using author characteristics. I show that authors who have stronger academic
backgrounds receive more citations. Próximo, I performed simulations by asking a hypothetical
pregunta: What would happen if a subset of the accepted papers is selected by an opportunis-
tic editor. I considered two types of opportunistic editors: an opportunistic editor who has
perfect foresight can improve the average citation performance of AER by 133.8%, and an
opportunistic editor who uses predicted values from my regressions can improve the average
citation performance of AER by 34.2% when a quarter of the current articles are selected.

The citation performance is used as the standard proxy for the quality of an article. Allá-
delantero, I cannot claim that the authors with certain characteristics are overrepresented because
the journal inflates its Impact Factor. Because of the positive correlation between the quality of
an article and its citation performance, authors who are expected to receive more citations
may be preferred for the quality of their articles. Sin embargo, my analysis shows that there
is a potential that the average citation performance of AER can be improved substantially if it is
desired by an opportunistic editor. Another problem that is created by the opportunistic editor
is that the journal would rely on the contribution of a smaller group of researchers, cual
might be a handicap. Por ejemplo, authors who publish in theoretical journals are less likely
to publish at AER if the journal relies on citation performance. This would limit the intellectual
diversity of the journal.

An honest editor may want to maximize the average quality of articles in a journal. Suppose
for a moment that the number of citations is a perfect measure for quality, and the quality of the
article and its citations are perfectly correlated. En este caso, the problem that the honest editor
faces would be the same as the opportunistic editor in my simulation exercise. Por ejemplo,
the honest editor with perfect foresight would accept more articles by the authors who are

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Predicting the impact of American Economic Review articles

affiliated with the top 10 institutions, because these authors write higher quality articles. Más-
encima, the honest editor who has limited information would accept even more authors who are
affiliated with the top 10 institutions, because being affiliated with these institutions serve as a
good proxy for the quality of their articles. En otras palabras, the honest editor needs to discrim-
inate against authors with certain characteristics to maximize the expected average quality of
the articles in the journal.

AER considers itself a general-interest economics journal that is among the most scholarly
journals in economics7. I show that the author characteristics are concentrated in AER. Es un
good feature of such a high-quality journal to give a fair chance to authors. Blind reviewing
would solve the problem, but it is getting more difficult to hide the identity of authors. Otro
policy would be to give statistics about the authors in papers that are accepted and rejected.
Por ejemplo, if theorists’ articles are disproportionately rejected, the journal may investigate
whether this is the result of a fair procedure.

CONFLICTO DE INTERESES

The author has no competing interests.

INFORMACIÓN DE FINANCIACIÓN

This research did not receive any funding.

DISPONIBILIDAD DE DATOS

I am not able to share the data of this study because the data include the citation perfor-
mance of individual articles that are extracted from the Web of Science.

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