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The pricing of academic journals: A two-sided market perspective

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  • Doh-Shin Jeon
  • Jean-Charles Rochet

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’ payoffs, 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 Department of Economics and Business, Universitat Pompeu Fabra in its series Economics Working Papers with number 1025.

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Date of creation: Mar 2007
Date of revision: Apr 2009
Handle: RePEc:upf:upfgen:1025

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Web page: http://www.econ.upf.edu/

Related research

Keywords: Academic Journals; Open-Access; Reader-Pays; Two-Sided Market; Endogenous Quality;

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References

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  1. Jean-Charles Rochet & Jean Triole, 2002. "Platform Competition in Two Sided Markets," FMG Discussion Papers dp409, Financial Markets Group.
  2. 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.
  3. Mark McCabe & Christopher Snyder, 2004. "The Economics of Open-Access Journals," Working Papers 04-18, NET Institute, revised Nov 2004.
  4. repec:rje:randje:v:37:y:2006:3:p:720-737 is not listed on IDEAS
  5. 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.
  6. 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.
  7. repec:ebl:ecbull:v:12:y:2004:i:10:p:1-11 is not listed on IDEAS
  8. Mark Armstrong, 2010. "Collection Sales: Good Or Bad For Journals?," Economic Inquiry, Western Economic Association International, vol. 48(1), pages 163-176, 01.
  9. 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.
  10. Doh-Shin Jeon & Domenico Menicucci, 2006. "Bundling Electronic Journals and Competition among Publishers," Journal of the European Economic Association, MIT Press, vol. 4(5), pages 1038-1083, 09.
  11. repec:rje:randje:v:37:y:2006:3:p:645-667 is not listed on IDEAS
  12. repec:rje:randje:v:37:y:2006:3:p:668-691 is not listed on IDEAS
  13. 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.
  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. Gaulé, Patrick & Maystre, Nicolas, 2011. "Getting cited: Does open access help?," Research Policy, Elsevier, vol. 40(10), pages 1332-1338.
    • 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.
  2. 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.
  3. Damien Besancenot & Radu Vranceanu, 2014. "A model of scholarly publishing with hybrid academic journals," Post-Print hal-00971541, HAL.
  4. 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).
  5. Emmanuel Farhi & Josh Lerner & Jean Tirole, 2008. "Fear of Rejection? Tiered Certification and Transparency," NBER Working Papers 14457, National Bureau of Economic Research, Inc.
  6. Andre Veiga & E. Glen Weyl, 2011. "Multidimensional Heterogeneity and Platform Design," Working Papers 11-33, NET Institute, revised Nov 2011.
  7. Jeon, Doh-Shin & Menicucci, Domenico, 2013. "When Is Building a Library Consortium Bene cial?," TSE Working Papers 13-425, Toulouse School of Economics (TSE), revised 07 Apr 2014.
  8. 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.
  9. Mark Armstrong, 2010. "Collection Sales: Good Or Bad For Journals?," Economic Inquiry, Western Economic Association International, vol. 48(1), pages 163-176, 01.
  10. 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.
  11. Ponce, Jorge, 2012. "The quality of credit ratings: A two-sided market perspective," Economic Systems, Elsevier, vol. 36(2), pages 294-306.
  12. repec:tse:wpaper:27725 is not listed on IDEAS
  13. Armstrong, Mark, 2014. "Opening Access to Research," MPRA Paper 55488, University Library of Munich, Germany.
  14. Doh-Shin Jeon & Nikrooz Nasr Esfahani, 2012. "News Aggregators and Competition Among Newspapers in the Internet," Working Papers 12-20, NET Institute.

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