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The Pricing of Academic Journals: A Two-Sided Market Perspective

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  • Jeon, Doh-Shin
  • Rochet, Jean-Charles

Abstract

More and more academic journals adopt an open-access policy, by which articles are accessible free of charge, while publication costs are recovered through author fees. We study the consequences of this open access policy on a journal’s quality standard. If the journal’s objective was to maximize social welfare, open access would be optimal as long as the positive externalities generated by its diffusion exceed the marginal cost of distribution. However, we show that if an open access journal has a different objective (such as maximizing readers’ utility, the impact of the journal or its profit), it tends to choose a quality standard below the socially efficient level.

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Bibliographic Info

Paper provided by Institut d'Économie Industrielle (IDEI), Toulouse in its series IDEI Working Papers with number 458.

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Date of creation: Oct 2009
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Publication status: Published in American Economic Journal: Microeconomics, vol.�2, n°2, mai 2010, p.�222-255.
Handle: RePEc:ide:wpaper:7208

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References

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  1. Rochet, Jean-Charles & Tirole, Jean, 2003. "Platform Competition in Two-Sided Markets," IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse 152, Institut d'Économie Industrielle (IDEI), Toulouse.
  2. Doh-Shin Jeon & Domenico Menicucci, 2003. "Bundling electronic journals and competition among publishers," Economics Working Papers 678, Department of Economics and Business, Universitat Pompeu Fabra, revised Aug 2005.
  3. repec:rje:randje:v:37:y:2006:3:p:668-691 is not listed on IDEAS
  4. Jean-Charles Rochet & Jean Tirole, 2002. "Cooperation Among Competitors: Some Economics Of Payment Card Associations," RAND Journal of Economics, The RAND Corporation, vol. 33(4), pages 549-570, Winter.
  5. Simon P. Anderson & Stephen Coate, 2003. "Market Provision of Broadcasting: A Welfare Analysis," Virginia Economics Online Papers 358, University of Virginia, Department of Economics.
  6. Mark Armstrong, 2010. "Collection Sales: Good Or Bad For Journals?," Economic Inquiry, Western Economic Association International, vol. 48(1), pages 163-176, 01.
  7. repec:rje:randje:v:37:y:2006:3:p:720-737 is not listed on IDEAS
  8. McCabe Mark J & Snyder Christopher M., 2007. "Academic Journal Prices in a Digital Age: A Two-Sided Market Model," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 7(1), pages 1-39, January.
  9. repec:rje:randje:v:37:y:2006:3:p:645-667 is not listed on IDEAS
  10. Mathias Dewatripont & Victor Ginsburgh & Patrick Legros & Alexis Walckiers & Jean-Pierre Devroey & Marianne Dujardin & Françoise Vandooren & Pierre Dubois & Jérôme Foncel & Marc Ivaldi & Marie-Domi, 2006. "Study on the economic and technical evolution of the scientific publication markets in Europe," ULB Institutional Repository 2013/9545, ULB -- Universite Libre de Bruxelles.
  11. repec:ebl:ecbull:v:12:y:2004:i:10:p:1-11 is not listed on IDEAS
  12. Mark McCabe & Christopher Snyder, 2004. "The Economics of Open-Access Journals," Working Papers, NET Institute 04-18, NET Institute, revised Nov 2004.
  13. Mark J. McCabe & Christopher M. Snyder, 2005. "Open Access and Academic Journal Quality," American Economic Review, American Economic Association, vol. 95(2), pages 453-459, May.
  14. Mark McCabe, 2004. "Information goods and endogenous pricing strategies: the case of academic journals," Economics Bulletin, AccessEcon, vol. 12(10), pages 1-11.
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Citations

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Cited by:
  1. Dubois, P. & Hernandez Perez, A. & Ivaldi, M., 2006. "Academic journals as two-sided platforms : empirical evidence from data on french libraries," Economics Working Paper Archive (Toulouse), French Institute for Agronomy Research (INRA), Economics Laboratory in Toulouse (ESR Toulouse) 200606, French Institute for Agronomy Research (INRA), Economics Laboratory in Toulouse (ESR Toulouse).
  2. Doh-Shin Jeon & Nikrooz Nasr Esfahani, 2012. "News Aggregators and Competition Among Newspapers in the Internet," Working Papers, NET Institute 12-20, NET Institute.
  3. Emmanuel Farhi & Josh Lerner & Jean Tirole, 2008. "Fear of Rejection? Tiered Certification and Transparency," NBER Working Papers 14457, National Bureau of Economic Research, Inc.
  4. Andre Veiga & E. Glen Weyl, 2011. "Multidimensional Heterogeneity and Platform Design," Working Papers, NET Institute 11-33, NET Institute, revised Nov 2011.
  5. Jeon, Doh-Shin & Menicucci, Domenico, 2013. "When Is Building a Library Consortium Bene ficial?," IDEI Working Papers, Institut d'Économie Industrielle (IDEI), Toulouse 791, Institut d'Économie Industrielle (IDEI), Toulouse, revised 07 Apr 2014.
  6. Frank Mueller-Langer & Richard Watt, 2013. "Optimal Pricing and Quality of Academic Journals and the Ambiguous Welfare Effects of Forced Open Access: A Two-Sided Model," Working Paper Series of the German Council for Social and Economic Data, German Council for Social and Economic Data (RatSWD) 223, German Council for Social and Economic Data (RatSWD).
  7. repec:tse:wpaper:27725 is not listed on IDEAS
  8. Mark Armstrong, 2014. "Opening Access to Research," Economics Series Working Papers 707, University of Oxford, Department of Economics.
  9. Ponce, Jorge, 2012. "The quality of credit ratings: A two-sided market perspective," Economic Systems, Elsevier, vol. 36(2), pages 294-306.
  10. Armstrong, Mark, 2008. "Collection sales: good or bad for journals?," MPRA Paper 8619, University Library of Munich, Germany.
  11. Roberto Bombana & Carla Marchese, 2014. "Designing fees for music copyright holders in radio services," ECONOMIA E POLITICA INDUSTRIALE, FrancoAngeli Editore, vol. 2014(2), pages 5-19.
  12. Batiz-Lazo, Bernardo & Krichel, Thomas, 2010. "The creation of internet communities: A brief history of on-line distribution of working papers through NEP, 1998-2010," MPRA Paper 27085, University Library of Munich, Germany.
  13. Gaulé, Patrick & Maystre, Nicolas, 2011. "Getting cited: Does open access help?," Research Policy, Elsevier, vol. 40(10), pages 1332-1338.
  14. Damien Besancenot & Radu Vranceanu, 2014. "A model of scholarly publishing with hybrid academic journals," Post-Print hal-00971541, HAL.

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