How Nobel Laureates Would Perform in the Handelsblatt Ranking

1. How Nobel Laureates Would Perform in the Handelsblatt Ranking

2. Introduction Handelsblattranking Nobel LaureatesDiscussion Publicationcountsof Nobel Laureates in economics How Nobel Laureates Would Perform in the Handelsblatt Ranking

3. Introduction Handelsblattranking Nobel LaureatesDiscussion Introduction • Doctoralstudent in economics • At KOF Swiss Economic Institute at ETH Zuerich • Manager ofthebibliometricdatabaseForschungsmonitoring • CalculatethebibliometricHandelsblattrankings How Nobel Laureates Would Perform in the Handelsblatt Ranking

4. Introduction Handelsblattranking Nobel LaureatesDiscussion Agenda • Introduction • Forschungsmonitoring / Handelsblattranking • Nobel Laureates • Discussion How Nobel Laureates Would Perform in the Handelsblatt Ranking

5. IntroductionHandelsblattranking Nobel LaureatesDiscussion Bibliometric webportal forschungsmonitoring.org • Forschunsmonitoring.org hasbeeninitiatedbythe Verein für Socialpolitik • Records 6‘0000 (business) economists in Germany, Austria andSwitzerlandandtheir85‘000 publications in peer-reviewedjournals • Relational database • Systematic update once a year How Nobel Laureates Would Perform in the Handelsblatt Ranking

6. IntroductionHandelsblattranking Nobel LaureatesDiscussion Login for researchers to validate data How Nobel Laureates Would Perform in the Handelsblatt Ranking

7. IntroductionHandelsblattranking Nobel LaureatesDiscussion Handelsblattranking • Almostyearlypublicationsincetheyear 2005 • Economistsorbusinesseconomists • In Germany, Austria andSwitzerland • Very well-knownandheavilydebated How Nobel Laureates Would Perform in the Handelsblatt Ranking

8. IntroductionHandelsblattranking Nobel LaureatesDiscussion Methodology of the Handelsblattranking • Research articles in peer-reviewed Journals • 1524 Journals fromtheEconLit Index supplementedbyStatisticsjournals • Journal weight • Handelsblatt countdepends on • Journal weight • Numberofauthors • Lengthofthetextisignored • Kind ofarticle: researcharticles, comments, notes, replys, editorials • Handelsblatt countisthejournalweightdividedbyauthors • 1 count can be thought of as equivalent to one single-authored research article published in the American Economic Review (AER) • Sumupthecountsofthe individual article • Over economist: Individual ranking • Over economistsat University: Department ranking How Nobel Laureates Would Perform in the Handelsblatt Ranking

9. IntroductionHandelsblattranking Nobel LaureatesDiscussion Pivotal role how the journals are weighted • The Handelsblatt-journal weightinglistforeconomicsisbased on a studyby Pierre-Philippe Combes und Laurent Linnemer (2010): InferringMissingCitations - A Quantitative Multi-Criteria Ranking of all Journals in Economics Das Handelsblattranking und seine Zeitschriftenliste

10. IntroductionHandelsblattranking Nobel LaureatesDiscussion Handelsblatt Journal list How Nobel Laureates Would Perform in the Handelsblatt Ranking

11. IntroductionHandelsblattranking Nobel LaureatesDiscussion Handelsblattranking 2013 foreconomists How Nobel Laureates Would Perform in the Handelsblatt Ranking

12. IntroductionHandelsblattranking Nobel LaureatesDiscussion Handelsblattranking 2013 foreconomicdepartments How Nobel Laureates Would Perform in the Handelsblatt Ranking

13. IntroductionBibliometricsHandelsblattranking Nobel LaureatesDiscussion Controversy • Rankings aredebatedheavilyandcontroversly • Convexityofthejournalweightplays an importantrole • Neglectswithinjournalheterogeneity • Providescompactinformationaboutresearchoutput • Doestheresponsabilitylyewiththeuseroftheinformation? • Shiftofincentives • Holmstrom & Milgrom(1991): If you incentivize tasks that are easy to monitor, people will put more effort into these tasks. How Nobel Laureates Would Perform in the Handelsblatt Ranking

14. Introduction Handelsblattranking Nobel LaureatesDiscussion How Nobel Laureates Would Perform in the HandelsblattRanking • Matthias Krapf (University of Zuerich) • Jörg Schläpfer • Regional and Sectoral Economic Studies Volume 12-3 • Abstract We compile a ranking of the research output of all Nobel Laureates in economics using the Handelsblatt methodology and compare the outcome to the Handelsblatt ranking of economists in the German-speaking area. Our analysis focuses on whether the overall rating scores of the Nobel Laureates are indicative of their high achievements. We discuss the role of the convexity of the employed journal weights and draw conclusions on the Handelsblatt’s methodology. How Nobel Laureates Would Perform in the Handelsblatt Ranking

15. Introduction Handelsblattranking Nobel LaureatesDiscussion Previous studies on Nobel Laureates • Rablen and Oswald (2008) estimate that receiving a Nobel Prize raises life expectancy by between one and two years. • Jones (2010) and Jones and Weinberg (2012) find that innovations that resulted in Nobel Prizes are made increasingly later in life. • Weinberg and Galenson (2005) distinguish between two types of innovators and show that experimental scholars do their most important work later in life than conceptual laureates. How Nobel Laureates Would Perform in the Handelsblatt Ranking

16. Introduction Handelsblattranking Nobel LaureatesDiscussion Publicationtableof Nobel Laureates in economics How Nobel Laureates Would Perform in the Handelsblatt Ranking

17. Introduction Handelsblattranking Nobel LaureatesDiscussion Observations • Skewed distribution also among Nobel Lareates • Paul Samuelson – an economist with a superior reputation - leads the table by an impressive lead. • 15 of the 74 Nobel Laureates in economics earned lower Handelsblatt counts than the top 20 researchers in the German speaking area. • 27 Nobel Laureates have earned higher counts than the top researcher in the German-speaking area, who has not won a Nobel Prize. • Hamermeshand Pfann (2012): conditional on its impact, the quantity of output has no or even a negative effect on being awarded honors and prizes in economics. • Our table is not to be understood as a ranking of Nobel Prize winners’ scientific quality. Rather, our goal is to provide examples of different kinds of publication behaviors. How Nobel Laureates Would Perform in the Handelsblatt Ranking

18. Introduction Handelsblattranking Nobel LaureatesDiscussion Publications in A+ and A journals • Two very convex weighting schemes: restricted on A+ and A • Reflecting the tradeoff between publication quantity and publication quality • The correlation between counts from A+ and A journals and total counts is almost perfect with a Spearman coefficient of rank correlation of 0.98 • In contrast for the Top of the German speaking area this rank correlation is only 0.63 How Nobel Laureates Would Perform in the Handelsblatt Ranking

19. Introduction Handelsblattranking Nobel LaureatesDiscussion Conclusion • For the very top researchers measuring publications in top journals is a good signal for overall output, but this restriction only applies to the very top researchers, i.e. Nobel Laureates. • Using Nobel Laureates as a benchmark is of interest because, as Hirsch (2005) notes, “[f]or the few scientists who earn a Nobel prize, the impact and relevance of their research is unquestionable.” However, any such comparison necessarily involves comparing apples and oranges. • The Handelsblatt ranking is not a perfect measure of past research output. • Standard research ratings that give sufficient weight to quantity are a major source of motivation for aspiring researchers. And it is the level of activity of all economists, which determines how far those can reach who are at the top of the pyramid of the economics community. How Nobel Laureates Would Perform in the Handelsblatt Ranking

20. Introduction Handelsblattranking Nobel LaureatesDiscussion Questions / Discussion How Nobel Laureates Would Perform in the Handelsblatt Ranking