The publication records (1980)(1981)(1982)(1983)(1984)(1985)(1986) of U.S. Ph.D.-granting economics departments are used to rank departments in industrial economics. Princeton, Cal Tech, Harvard, Yale, and Northwestern demonstrate the strongest and most consistent publishing performances. Also examined are the departmental publication records in each of the 16 subfields of industrial economics and the publication records of the leading individual researchers. The results indicate that the overall reputation of a department does not always reflect faculty strength in industrial economics.
We are honored to have such a well-respected economist as William G. Shepherd comment on our work and are grateful to have the opportunity to respond to his concerns.Shepherd has three main points. First, he argues that citations are a more reliable index of research performance than are page counts. Second, he claims that our sample of journals is inappropriate because it includes extraneous journals and excludes important industrial organization journals.Third, Shepherd contends that our study inappropriately pools mainstream industrial organization research with "new IO theory." The following sections address these criticisms.
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