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Economist on "Submitting R&R to Different Journal"

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Is this a no-no? I'm a PhD student submitting my first paper. I got a LOT of feedback after my first submission to second-tier field journal (both from the referees and people in the department), and I honestly feel I could aim for a top field now.

Even if it gets rejected at the top field, couldn't I just send in my revised version to the original journal?

I FEEL like this is considered wrong, but I'm not sure why.


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