Since most academic journals will be available on the Internet, this would probably become the preferred style of electronic references. 3 Third, Web browsers are already capable of displaying color images, whereas PDF or PS viewers are not. But, again, it remains to be seen whether our profession will stick to the old tradition or move forward. It is going to be different from the final version accepted for publication in a journal anyway. Each person must weigh the benefits and costs.
People are free to do whatever they please with their working papers.
However, such electronic publications may not be treated as publications for tenure and promotion decisions. Say that a working paper on the Internet contains a publishable idea. It can be downloaded by anybody, who can replace some symbols, change the title, rewrite the introduction, modify the story a little, and submit it to a journal as a totally different paper in one afternoon. With some luck, that paper may even be accepted sooner than the original. A more sophisticated person would even cite the working paper, thereby legitimizing the reconstituted paper.