Jun 12 JDN 2459773

Here it is, my first peer-reviewed publication: “Imperfect Tactic Collusion and Asymmetric Price Transmission”, in the Journal of Economic Behavior and Organization.

Due to the convention in economics that authors are displayed alphabetically, I am listed third of four, and will be typically collapsed into “Bulutay et. al.”. I don’t actually think it should be “Julius et. al.”; I think Dave Hales did the most important work, and I wanted it to be “Hales et. al.”; but anything non-alphabetical is unusual in economics, and it would have taken a strong justification to convince the others to go along with it. This is a very stupid norm (and I attribute approximately 20% of Daron Acemoglu’s superstar status to it), but like any norm, it is difficult to dislodge.

I thought I would feel different when this day finally came. I thought I would feel joy, or at least satisfaction. I had been hoping that satisfaction would finally spur me forward in resubmitting my single-author paper, “Experimental Public Goods Games with Progressive Taxation”, so I could finally get a publication that actually does have “Julius (2022)” (or, at this rate, 2023, 2024…?). But that motivating satisfaction never came.

I did feel some vague sense of relief: Thank goodness, this ordeal is finally over and I can move on. But that doesn’t have the same motivating force; it doesn’t make me want to go back to the other papers I can now hardly bear to look at.

This reaction (or lack thereof?) could be attributed to circumstances: I have been through a lot lately. I was already overwhelmed by finishing my dissertation and going on the job market, and then there was the pandemic, and I had to postpone my wedding, and then when I finally got a job we had to suddenly move abroad, and then it was awful finding a place to live, and then we actually got married (which was lovely, but still stressful), and it took months to get my medications sorted with the NHS, and then I had a sudden resurgence of migraines which kept me from doing most of my work for weeks, and then I actually caught COVID and had to deal with that for a few weeks too. So it really isn’t too surprising that I’d be exhausted and depressed after all that.

Then again, it could be something deeper. I didn’t feel this way about my wedding. That genuinely gave me the joy and satisfaction that I had been expecting; I think it really was the best day of my life so far. So it isn’t as if I’m incapable of these feelings under my current state.

Rather, I fear that I am becoming more permanently disillusioned with academia. Now that I see how the sausage is made, I am no longer so sure I want to be one of the people making it. Publishing that paper didn’t feel like I had accomplished something, or even made some significant contribution to human knowledge. In fact, the actual work of publication was mostly done by my co-authors, because I was too overwhelmed by the job market at the time. But what I did have to do—and what I’ve tried to do with my own paper—felt like a miserable, exhausting ordeal.

More and more, I’m becoming convinced that a single experiment tells us very little, and we are being asked to present each one as if it were a major achievement when it’s more like a single brick in a wall.

But whatever new knowledge our experiments may have gleaned, that part was done years ago. We could have simply posted the draft as a working paper on the web and moved on, and the world would know just as much and our lives would have been a lot easier.

Oh, but then it would not have the imprimatur of peer review! And for our careers, that means absolutely everything. (Literally, when they’re deciding tenure, nothing else seems to matter.) But for human knowledge, does it really mean much? The more referee reports I’ve read, the more arbitrary they feel to me. This isn’t an objective assessment of scientific merit; it’s the half-baked opinion of a single randomly chosen researcher who may know next to nothing about the topic—or worse, have a vested interest in defending a contrary paradigm.

Yes, of course, what gets through peer review is of considerably higher quality than any randomly-selected content on the Internet. (The latter can be horrifically bad.) But is this not also true of what gets submitted for peer review? In fact, aren’t many blogs written by esteemed economists (say, Krugman? Romer? Nate Silver?) of considerably higher quality as well, despite having virtually none of the gatekeepers? I think Krugman’s blog is nominally edited by the New York Times, and Silver has a whole staff at FiveThirtyEight (they’re hiring, in fact!), but I’m fairly certain Romer just posts whatever he wants like I do. Of course, they had to establish their reputations (Krugman and Romer each won a Nobel). But still, it seems like maybe peer-review isn’t doing the most important work here.

Even blogs by far less famous economists (e.g. Miles Kimball, Brad DeLong) are also very good, and probably contribute more to advancing the knowledge of the average person than any given peer-reviewed paper, simply because they are more readable and more widely read. What we call “research” means going from zero people knowing a thing to maybe a dozen people knowing it; “publishing” means going from a dozen to at most a thousand; to go from a thousand to a billion, we call that “education”.

They all matter, of course; but I think we tend to overvalue research relative to education. A world where a few people know something is really not much better than a world where nobody does, while a world where almost everyone knows something can be radically superior. And the more I see just how far behind the cutting edge of research most economists are—let alone most average people—the more apparent it becomes to me that we are investing far too much in expanding that cutting edge (and far, far too much in gatekeeping who gets to do that!) and not nearly enough in disseminating that knowledge to humanity.

I think maybe that’s why finally publishing a paper felt so anticlimactic for me. I know that hardly anyone will ever actually read the damn thing. Just getting to this point took far more effort than it should have; dozens if not hundreds of hours of work, months of stress and frustration, all to satisfy whatever arbitrary criteria the particular reviewers happened to use so that we could all clear this stupid hurdle and finally get that line on our CVs. (And we wonder why academics are so depressed?) Far from being inspired to do the whole process again, I feel as if I have finally emerged from the torture chamber and may at last get some chance for my wounds to heal.

Even publishing fiction was not this miserable. Don’t get me wrong; it was miserable, especially for me, as I hate and fear rejection to the very core of my being in a way most people do not seem to understand. But there at least the subjectivity and arbitrariness of the process is almost universally acknowledged. Agents and editors don’t speak of your work being “flawed” or “wrong”; they don’t even say it’s “unimportant” or “uninteresting”. They say it’s “not a good fit” or “not what we’re looking for right now”. (Journal editors sometimes make noises like that too, but there’s always a subtext of “If this were better science, we’d have taken it.”) Unlike peer reviewers, they don’t come back with suggestions for “improvements” that are often pointless or utterly infeasible.

And unlike peer reviewers, fiction publishers acknowledge their own subjectivity and that of the market they serve. Nobody really thinks that Fifty Shades of Grey was good in any deep sense; but it was popular and successful, and that’s all the publisher really cares about. As a result, failing to be the next Fifty Shades of Grey ends up stinging a lot less than failing to be the next article in American Economic Review. Indeed, I’ve never had any illusions that my work would be popular among mainstream economists. But I once labored under the belief that it would be more important that it is true; and I guess I now consider that an illusion.

Moreover, fiction writers understand that rejection hurts; I’ve been shocked how few academics actually seem to. Nearly every writing conference I’ve ever been to has at least one seminar on dealing with rejection, often several; at academic conferences, I’ve literally never seen one. There seems to be a completely different mindset among academics—at least, the successful, tenured ones—about the process of peer review, what it means, even how it feels. When I try to talk with my mentors about the pain of getting rejected, they just… don’t get it. They offer me guidance on how to deal with anger at rejection, when that is not at all what I feel—what I feel is utter, hopeless, crushing despair.

There is a type of person who reacts to rejection with anger: Narcissists. (Look no further than the textbook example, Donald Trump.) I am coming to fear that I’m just not narcissistic enough to be a successful academic. I’m not even utterly lacking in narcissism: I am almost exactly average for a Millennial on the Narcissistic Personality Inventory. I score fairly high on Authority and Superiority (I consider myself a good leader and a highly competent individual) but very low on Exploitativeness and Self-Sufficiency (I don’t like hurting people and I know no man is an island). Then again, maybe I’m just narcissistic in the wrong way: I score quite low on “grandiose narcissism”, but relatively high on “vulnerable narcissism”. I hate to promote myself, but I find rejection devastating. This combination seems to be exactly what doesn’t work in academia. But it seems to be par for the course among writers and poets. Perhaps I have the mind of a scientist, but I have the soul of a poet. (Send me through the wormhole! Please? Please!?)