Abe arafi@umich.edu said:

How do you create a space where scholars can compete? Since the prizes in academia are relevance and prestige, and since relevance/presitge are measured by the number of people who are citing your work, Wikipedia could allow users to cite scholarly works in articles, and track those citations competitively.

You're talking about Open Access journals. A good overview is here:

http://www.earlham.edu/~peters/fos/overview.htm

This is a good directory of Open Access journals:

http://www.doaj.org/

I'm not convinced that Wikimedia stepping into this space is good for either Wikimedia or academic journals.

~ESP