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1 Eur. J.L. & Econ. 5 (1994)

handle is hein.journals/eurjlwec1 and id is 1 raw text is: European Journal of Law and Economics, 1: 5-7 (1994) 0 1994 Kluwer Academic Publishers The Purpose of the European Journal of Law and Economics and the Intentions of Its Editors The ultimate purpose of a publication is the benefit it creates for its readers. Competing for the reader's attention by launching a new journal has become much more difficult today than it was a generation ago when Aaron Director started the Journal of Law and Economics in 1958. At least three of the changes that have occurred over the last thirty-five years are important for successfully realizing the purpose of this journal. First, the number of journals published in the social sciences generally, and in law and economics, has multiplied between five- and tenfold, and so has the number of articles that compete for the reader's attention. Accordingly, the author of any one article can expect a commensurately smaller share of the reader's attention. Second, journals are only one of various possible outlets for research by which to reach the interested reader. Our survey of European scholars in law and economics has shown that in contrast to their American colleagues most prefer to publish their work in the form of monographs, books edited for a particular purpose and with a strictly defined topic, festschriften, proceedings volumes of large professional organizations, and even the traditional general-interest journals in both political economy and law. This publishing behavior probably reveals not only different incentives faced by European and American scholars, but also a specific view held by many European scholars in law and economics on how most effectively to reach their intended audiences. Finally, journals that begin their existence with a practical orientation can become, over the years, more and more abstract, resulting in a substantial discrepancy between the expectations of many readers of the journal and the ambitions of its authors and referees. While academically trained economists and lawyers working in business and government are often eager and grateful to see aspects of their daily work being dealt with in a fresh and scholarly fashion, most university-based researchers remain aloof from practical problems and prefer the intellectually challenging task of refining theoretically derived models and procedures. If a journal becomes supply dominated, it may confer high prestige on its authors but be neglected and even disdained by its potential readers. Conversely, a journal popular with a wide readership may be considered inconsequential by the scholarly community. With the European Journal of Law and Economics we strive for scholarship that avoids being abstract and arid but convinces by rigorous standards, command of theoretical knowledge in the best European tradition, and commitment to contributing to better policies.

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