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Matthew Spiegel, Reviewing Less—Progressing More, The Review of Financial Studies, Volume 25, Issue 5, May 2012, Pages 1331–1338, https://doi.org/10.1093/rfs/hhs052
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Abstract
Editorial: Presumably, academic journals exist and publish articles to disseminate new ideas. Somehow that simple goal has been lost. Today, articles appear in print only after a referee is convinced that all other alternative explanations for its results have been ruled out. In reality, no article can exclude every possible alternative, so this is basically an exercise in futility. The criterion for publication should be that once an article crosses some threshold it is good enough to publish. The problem seemingly lies in our inability to say “good enough.” But this is a problem we can fix.