Matthew: Effect or Fable?

Pierre Azoulay, Toby Stuart and Yanbo Wang

No 18625, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: In a market context, a status effect occurs when actors are accorded differential recognition for their efforts depending on their location in a status ordering, holding constant the quality of these efforts. In practice, because it is very difficult to measure quality, this ceteris paribus proviso often precludes convincing empirical assessments of the magnitude of status effects. We address this problem by examining the impact of a major status-conferring prize that shifts actors' positions in a prestige ordering. Specifically, using a precisely constructed matched sample, we estimate the effect of a scientist becoming a Howard Hughes Medical Investigator (HHMI) on citations to articles the scientist published before the prize was awarded. We do find evidence of a post-appointment citation boost, but the effect is small and limited to a short window of time. Consistent with theories of status, however, the effect of the prize is significantly larger when there is uncertainty about article quality, and when prize-winners are of (relatively) low status at the time of election to HHMI.

JEL-codes: O31 O33 (search for similar items in EconPapers)
Date: 2012-12
New Economics Papers: this item is included in nep-sog
Note: PR
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published as Pierre Azoulay & Toby Stuart & Yanbo Wang, 2014. "Matthew: Effect or Fable?," Management Science, vol 60(1), pages 92-109.

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