A new kind of a not refereed electronic scholarly journal is proposed. Each paper is immediately published after its submission, but it is latter judged by the readers of the journal, leading to a dynamically updated score that measures the quality of the paper. The author of the paper has a score too, that is affected by the score assumed by his paper(s). Also the readers have a score, measuring the quality of the scores that they have assigned. While time goes on, readers read the papers, judgments are expressed, and the corresponding scores vary consequently. The score of a paper can be used for deciding to read or not to read that paper; the score of authors and readers are a measure of their research productivity, then they will try to do their best for keeping their score at a high level, hopefully leading to a virtuous circle (publishing good papers and giving correct judgments to the read papers). To demonstrate the feasibility of the system and its effectiveness, a possible realization of the journal is formally described through some mathematical formulae, and some small simulations of typical cases are presented.