International Journal of Economics, Finance and Management Sciences
Volume 6, Issue 1, February 2018, Pages: 1-5
Received: Oct. 9, 2017;
Accepted: Oct. 31, 2017;
Published: Dec. 20, 2017
Views 1190 Downloads 90
Sumiko Asai, School of Political Science and Economics, Meiji University, Tokyo, Japan
Although an increase in the prices of academic journals across several decades has been a crucial issue for research institutions, few studies using individual journal prices have been carried out on the introduction of a bundling service called Big Deal. The present study empirically examines the determinants of the prices of 409 economic journals using the latest data. The results found that publishers set higher prices for more frequently cited journals, implying that the demand factor influences the price level in addition to cost factors. Furthermore, prices of journals published by large commercial publishers are higher than those published by professional associations and university presses. However, the prices differ among large commercial publishers, and further investigation is needed to conclude whether they set higher prices by exercising market power. On the other hand, an increase in the number of pages in individual journals caused by an increase in the number of submitted articles certainly leads to a corresponding rise in journal subscription prices. The healthy development of open access journals to ensure that everyone can read articles for free is needed to restrict an increase in the prices of traditional subscription journals.
Determinants of Library Subscription Prices of Economic Journals, International Journal of Economics, Finance and Management Sciences.
Vol. 6, No. 1,
2018, pp. 1-5.
Copyright © 2017 Authors retain the copyright of this article.
This article is an open access article distributed under the Creative Commons Attribution License (http://creativecommons.org/licenses/by/4.0/
) which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited.
Greco, A. N. (2015). Academic libraries and the economics of scholarly publishing in the twenty-first century: Portfolio theory, product differentiation, economic rent, perfect price discrimination, and the cost of prestige. Journal of Scholarly Publishing, 47 (1), 1–43.
Bergstrom, T. C., Courant, P. N., McAfee, R. P. and Williams, M. A. (2014). Evaluating big deal journal bundles. Proceedings of the National Academy of Sciences of the United States of America, 111 (26), 9425–9430.
Edlin, A. S. and Rubinfeld, D. L. (2005). The bundling of academic journals. American Economic Review, 95 (2), 441–446.
Dewatripont, M., Legros, P., Ginsburgh, V., and Walckiers, A. (2007). Pricing of scientific journals and market power. Journal of European Economic Association, 5 (2–3), 400–410.
Joyce, P. and Merz, T. E. (1985). Price discrimination in academic journals. Library Quarterly, 55 (3), 273–283.
Liebowitz, S. J. (1985). Copying and indirect appropriability: Photocopying of journals. Journal of Political Economy, 93 (5), 945–957.
McCabe, M. J. (2002). Journal pricing and mergers: A portfolio approach. American Economic Review, 92 (1), 259–269.
Petersen, H. C. (1990). University libraries and pricing practices by publishers of scholarly journals. Research in Higher Education, 31 (4), 307–314.
Petersen, H. C. (1992). The economics of economics journals: A statistical analysis of pricing practices by publishers. College & Research Libraries, 53 (2), 176–181.
Chressanthis, G. A. and Chressanthis, J. D. (1994). The determinants of library subscription prices of the top-ranked economics journals: An econometric analysis. Journal of Economic Education, 25 (4), 367–382.
Bergstrom, T. C. (2001). Free labor for costly journals? Journal of Economic Perspectives, 15 (3), 183–198.