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The market for academic journals

Author

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  • Owen Phillips
  • Lori Phillips

Abstract

Library journal subscriptions are treated as a public good. A monopoly publisher sells subscriptions to both libraries and individuals. For individuals, the journal is a private good. Profit maximization can lead to high institutional prices and few individual subscribers. This outcome is reinforced by increases in publishing costs. Library serial prices fall if patrons pay access costs and/or there is congestion. Data are presented to support these conclusions. Library prices are two to ten times higher than private prices; there are as few as two to four individual subscribers in an academic journal market. Library subscription prices are directly related to the number of consumers who use the library serial.

Suggested Citation

  • Owen Phillips & Lori Phillips, 2002. "The market for academic journals," Applied Economics, Taylor & Francis Journals, vol. 34(1), pages 39-48.
    • Handle: RePEc:taf:applec:v:34:y:2002:i:1:p:39-48
    DOI: 10.1080/00036840010029476
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    Cited by:

    1. Oliver Budzinski & Thomas Grebel & Jens Wolling & Xijie Zhang, 2020. "Drivers of article processing charges in open access," Scientometrics, Springer;Akadémiai Kiadó, vol. 124(3), pages 2185-2206, September.
    2. Yuqing Zheng & Harry M. Kaiser, 2012. "Price Discrimination in the Subscription Market for Economics Journals," Southern Economic Journal, John Wiley & Sons, vol. 79(2), pages 464-480, October.
    3. M. J. Alhabeeb, 2020. "Price Discrimination as a Marketing Strategy," International Journal of Marketing Studies, Canadian Center of Science and Education, vol. 11(4), pages 1-1, March.
    4. Issman-Weit, Einat & Shy, Oz, 2003. "Pricing of library subscriptions with applications to scientific journals," Journal of Economics and Business, Elsevier, vol. 55(2), pages 197-218.

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