New Institutional Economics Perspective:Study Of Paper Review Of Humanities And Social Sciences Journals

Paper review of Humanities and Social Sciences (H&SS) journals is easier to be influenced by subjective factors, compared to that of Technology journals. Peer review is particularly important. Whether an H&SS paper can be published is not only determined by the academic level, but also influenced by deeper factors such as the person who reviews it, the system how to review. In the society which takes economic construction as the center, research on paper review of H&SS journals not only needs management, science of science and other disciplines to provide intellectual support, but also requires economics perspective.To deeply analyze causes of these factors and dig out economics mechanisms from every aspect of the review process, we use New Institutional Economics methods to study the bounded rationality and opportunism tendency of people, principal-agent relationship and transaction costs. Firstly, all people, as economic and social subjects, have tendency to maximize their own interests. Secondly, there is principal-agent relationship among authors, editors and peers. The existence of information asymmetry among them leads the emergence of adverse selection and moral hazard. Finally, there are transaction costs in the paper review process, because of searching peers and maintaining the peer database. The length of the review cycle brings time costs to authors. All above affect the optimal choice of papers and optimal configuration of academic resource.To review H&SS papers scientifically, objectively and fairly, this paper discusses how to build mechanisms such as peer selection and supervision, information communication and feedback, using methods of New Institutional Economics, citation analysis and information visualization. Conclusions are as follows. The scientometrics method can reduce man-made interference and the generation of adverse selection. Strengthening communication between two principal-agents can reduce moral hazard of peers. The establishment of the peer database can increase the transaction frequency and reduce transaction costs. Duties of chief editors and opening peer review can provide effective supervision to peers. H&SS journals need to shield human relations through the system and mechanisms building.