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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. Doh-Shin Jeon & Domenico Menicucci, 2005. "Bundling Electronic Journals and Competition among Publishers," Working Papers 270, Barcelona Graduate School of Economics.
  2. Jean-Charles Rochet & Jean Tirole, 2003. "Platform Competition in Two-Sided Markets," Journal of the European Economic Association, MIT Press, vol. 1(4), pages 990-1029, 06.
  3. repec:rje:randje:v:37:y:2006:3:p:668-691 is not listed on IDEAS
  4. Mark Armstrong, 2010. "Collection Sales: Good Or Bad For Journals?," Economic Inquiry, Western Economic Association International, vol. 48(1), pages 163-176, 01.
  5. Simon P. Anderson & Stephen Coate, 2005. "Market Provision of Broadcasting: A Welfare Analysis," Review of Economic Studies, Oxford University Press, vol. 72(4), pages 947-972.
  6. Mark McCabe, 2004. "Information goods and endogenous pricing strategies: the case of academic journals," Economics Bulletin, AccessEcon, vol. 12(10), pages 1-11.
  7. repec:rje:randje:v:37:y:2006:3:p:720-737 is not listed on IDEAS
  8. 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.
  9. repec:ebl:ecbull:v:12:y:2004:i:10:p:1-11 is not listed on IDEAS
  10. 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.
  11. Mark McCabe & Christopher Snyder, 2004. "The Economics of Open-Access Journals," Working Papers 04-18, NET Institute, revised Nov 2004.
  12. 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.
  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. repec:rje:randje:v:37:y:2006:3:p:645-667 is not listed on IDEAS
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Cited by:
  1. Ponce, Jorge, 2012. "The quality of credit ratings: A two-sided market perspective," Economic Systems, Elsevier, vol. 36(2), pages 294-306.
  2. repec:tse:wpaper:27725 is not listed on IDEAS
  3. Jeon, Doh-Shin & Menicucci, Domenico, 2013. "When Is Building a Library Consortium Bene ficial?," IDEI Working Papers 791, Institut d'Économie Industrielle (IDEI), Toulouse, revised 07 Apr 2014.
  4. Patrick Gaulé & Nicolas Maystre, 2008. "Getting cited: does open access help?," CEMI Working Papers cemi-workingpaper-2008-00, Ecole Polytechnique Fédérale de Lausanne, Collège du Management de la Technologie, Management of Technology and Entrepreneurship Institute, Chaire en Economie et Management de l'Innovation.
  5. 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.
  6. Andre Veiga & E. Glen Weyl, 2011. "Multidimensional Heterogeneity and Platform Design," Working Papers 11-33, NET Institute, revised Nov 2011.
  7. Doh-Shin Jeon & Nikrooz Nasr Esfahani, 2012. "News Aggregators and Competition Among Newspapers in the Internet," Working Papers 12-20, NET Institute.
  8. 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.
  9. Mueller-Langer, F. & Watt, R., 2012. "Optimal pricing and quality of academic journals and the ambiguous welfare effects of forced open access: A two-sided model," Discussion Paper 2012-019, Tilburg University, Tilburg Law and Economic Center.
  10. Mark Armstrong, 2010. "Collection Sales: Good Or Bad For Journals?," Economic Inquiry, Western Economic Association International, vol. 48(1), pages 163-176, 01.
  11. 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) 200606, French Institute for Agronomy Research (INRA), Economics Laboratory in Toulouse (ESR Toulouse).
  12. Mark Armstrong, 2014. "Opening Access to Research," Economics Series Working Papers 707, University of Oxford, Department of Economics.
  13. Emmanuel Farhi & Josh Lerner & Jean Tirole, 2008. "Fear of Rejection? Tiered Certification and Transparency," NBER Working Papers 14457, National Bureau of Economic Research, Inc.
  14. Besancenot, Damien & Vranceanu, Radu, 2014. "A model of scholarly publishing with hybrid academic journals," ESSEC Working Papers WP1406, ESSEC Research Center, ESSEC Business School.

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