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Abstract: Using a sample of the whole population of full professors of economics in one country (Sweden) we explore how the use of different measures influence outcomes in terms of the skewness and ranking of individual performances. We find large differences across all measures investigated, but some deviate more than others. In particular, the journal ranking of Kalaitzidakis et al. (2003) (KMS) appears to be an outlier among the available measures. Its distribution of performances is the most skewed, and its ranking of scholars corresponds the least with the rankings of the other measures. This is particularly troublesome since the KMS measure has become extremely influential, especially in Europe. Its influence was enhanced by its endorsement by three highly renowned past Presidents of the European Economic Association. Hence, relying on one single metric of research quality, especially one that is as extreme as KMS, is associated with a great risk given that researchers tend to adjust behavior in order to maximize the assessed relative and absolute value of their work.
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