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I n " dEsigning thE Perfect Auction " (Aug. 2008), Hal R. Varian noted that such auctions have many practical and obvious applications , including in Web advertising, cooperative robotics, digital business ecosystems, digital preservation , and network management. Auctions, by means of complementary community currencies, can also radically shift the way we conceive scientific cooperation. As we advocated in our paper " Selecting Scientific Papers for Publication via Citation Auctions " (IEEE Intelligent Systems, Nov./Dec. 2007), replacing peer review with an auction-based approach would benefit science in general. The better a submitted paper, the more complementary scientific currency its author(s) would likely bid to have it published. If the bid would truly reflect the paper's quality, the author(s) would be rewarded in this new scientific currency; otherwise, the author(s) would lose the currency. For all scientists, citations are a form of currency available worldwide, unlike the legal national currencies, which are scarce, especially in the third world. Auctions using citations as currency (" citation auctions ") would encourage scientists to better control the quality of their submissions, since those who are careless risk being dropped from the system. Scientists would also likely be more motivated to prepare worthwhile talks concerning their accepted papers and invite discussion of their results by their peers. Scientists would also likely focus on fewer papers and market them better. Citation auctions could thus greatly improve scientific research, helping it shift from peer review as the reigning selection method toward a continuously improving process of selection based on auctions. Calculating the value of a work of art or historical document is clearly difficult , and projecting that value into the future is even more difficult. The same holds when trying to calculate the current and possible future value of a scientific work. In a sort of back-to-basics movement, like science in the 18th and 19th centuries, that calculation could now be updated through citation auctions. Peer review would continue, though in a more proper place in the scientific production chain—before selection for publication—rather than as the sole selection step. This distributed-algorithmic mechanism would provide an interesting theoretical framework for incorporating incentives into algorithmic design , with bidding using an uncertain valuation of a work's quality, senior scientists helping their younger counterparts enter the scientific system, the marketing of scientific work through recommender systems, the avoidance of citation inflation, the creation of banks of citations, and …

Even science would benefit from auctions