Selecting Scientific Papers for Publication via Citation Auctions

Peer review aims to get authors to meet their discipline's standards and thus achieve scientific objectivity. However, it has many drawbacks. We propose replacing it with an auction-based approach that uses citations as currency: the better the submitted paper, the more of this currency the author will likely bid to have it published. If the bid correctly reflects the paper's quality, the author will be rewarded in this new scientific currency; otherwise; the author will lose this currency. We believe that citation auctions will encourage scientists to better control their submissions' quality. It will likely also inspire them to prepare more exciting talks for accepted papers and to invite discussion of their results at congresses and conferences and among their colleagues. In the long run, citation auctions could have the power to greatly improve scientific research.