Signaling effect of Gate-keeping in the Publication System

Current scientific processes rely on gate keeping: papers are accepted with a low acceptance rate at prestigious journals and conferences. But this signaling effect will reduce as the number of papers go up. The goal here is to devise a mathematical model to explain how the signaling effect diminishes. First, at the paper level, assuming a certain consumption model of researchers, it is impossible for researchers to decide whether to read a paper simply based on acceptance. This interaction can worsen also due to negative experiences in reading bad papers from venues, which is inevitable. Second, at the researcher level, the system will provide no signal about whether a researcher is good as it reduces to bean counting and bean counting does not surface actually good researchers.