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A model of scholarly publishing with hybrid academic journals

Author

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  • Damien Besancenot

    () (CEPN - Centre d'Economie de l'Université Paris Nord - UP13 - Université Paris 13 - USPC - Université Sorbonne Paris Cité - CNRS - Centre National de la Recherche Scientifique)

  • Radu Vranceanu

    () (ESSEC - Economics Department - Essec Business School)

Abstract

In April 2013, all of the major academic publishing houses moved thousands of journal titles to an original hybrid model, under which authors of accepted papers can choose between an expensive open access track and the traditional track available only to subscribers. This paper argues that authors might use publication strategy as a quality signaling device. The imperfect information game between authors and readers presents several types of Perfect Bayesian Equilibria, including a separating equilibrium in which only authors of high quality papers are driven toward the open access track. The publishing house will choose the open-access publication fee that supports the emergence of the highest return equilibrium. Journal structures will evolve over time according to the journals' accessibility - quality profiles.

Suggested Citation

  • Damien Besancenot & Radu Vranceanu, 2014. "A model of scholarly publishing with hybrid academic journals," CEPN Working Papers hal-00971541, HAL.
  • Handle: RePEc:hal:cepnwp:hal-00971541
    Note: View the original document on HAL open archive server: https://hal-essec.archives-ouvertes.fr/hal-00971541
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    References listed on IDEAS

    as
    1. Mathias Dewatripont & Victor Ginsburgh & Patrick Legros & Alexis Walckiers, 2007. "Pricing of Scientific Journals and Market Power," Journal of the European Economic Association, MIT Press, vol. 5(2-3), pages 400-410, 04-05.
    2. Doh-Shin Jeon & Jean-Charles Rochet, 2010. "The Pricing of Academic Journals: A Two-Sided Market Perspective," American Economic Journal: Microeconomics, American Economic Association, vol. 2(2), pages 222-255, May.
    3. In-Koo Cho & David M. Kreps, 1987. "Signaling Games and Stable Equilibria," The Quarterly Journal of Economics, Oxford University Press, vol. 102(2), pages 179-221.
    4. Damien Besancenot & Kim Huynh & Joao Faria, 2012. "Search and research: the influence of editorial boards on journals’ quality," Theory and Decision, Springer, vol. 73(4), pages 687-702, October.
    5. Besancenot, Damien & Vranceanu, Radu, 2008. "Can incentives for research harm research? A business schools' tale," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(3), pages 1248-1265, June.
    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. Aviv Nevo & Daniel L. Rubinfeld & Mark McCabe, 2005. "Academic Journal Pricing and the Demand of Libraries," American Economic Review, American Economic Association, vol. 95(2), pages 447-452, May.
    8. Aaron S. Edlin & Daniel L. Rubinfeld, 2005. "The Bundling of Academic Journals," American Economic Review, American Economic Association, vol. 95(2), pages 441-446, May.
    9. Michael Spence, 1973. "Job Market Signaling," The Quarterly Journal of Economics, Oxford University Press, vol. 87(3), pages 355-374.
    10. Gaulé, Patrick & Maystre, Nicolas, 2011. "Getting cited: Does open access help?," Research Policy, Elsevier, vol. 40(10), pages 1332-1338.
    11. 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.
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    Cited by:

    1. Damien Besancenot & Radu Vranceanu, 2015. "Fear Of Novelty: A Model Of Scientific Discovery With Strategic Uncertainty," Economic Inquiry, Western Economic Association International, vol. 53(2), pages 1132-1139, April.

    More about this item

    Keywords

    Academic publishing; Open access; Knowledge di¤usion; Imperfect information; Signaling;

    JEL classification:

    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production

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