Measuring the Value of Research: A Generational Accounting Approach

Robert Hofmeister ()

No 2011-07, Working Paper Series of the Department of Economics, University of Konstanz from Department of Economics, University of Konstanz

Abstract: This paper proposes a generational accounting approach to valuating research. Based on the flow of scientific results, a value-added (VA) index is developed that can, in principle, be used to assign a monetary value to any research result and, by aggregation, on entire academic disciplines or sub-disciplines. The VA-index distributes the value of all applications that embody research to the works of research which the applications directly rely on, and further to the works of research of previous generations which the authors of the immediate reference sources have directly or indirectly made use of. The major contribution of the VA index is to provide a measure of the value of research that is comparable across academic disciplines. To illustrate how the generational accounting approach works, I present a VAbased journal rating and a rating of the most influential recent journal articles in the field of economics.

Keywords: Research evaluation; research accounting; journal ranking; citations (search for similar items in EconPapers)
JEL-codes: A13 A14 I23 (search for similar items in EconPapers)
Pages: 33 pages
Date: 2011-05-02
New Economics Papers: this item is included in nep-acc and nep-sog
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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