• A journal is a club: a new economic model for scholarly publishing

    Author(s):
    John Hartley, Lucy Montgomery (see profile) , Cameron Neylon (see profile) , Jason Potts, Ellie Rennie
    Date:
    2017
    Group(s):
    Economics & Literature, Library & Information Science
    Subject(s):
    Literature and economics, Open access, Publishing, Scholarly communication, Sociology of knowledge
    Item Type:
    Article
    Permanent URL:
    http://dx.doi.org/10.17613/M6V52C
    Abstract:
    A new economic model for the analysis of scholarly publishing – journal publishing in particular – is proposed that draws on club theory. The standard approach builds on market failure in the private production (by research scholars) of a public good (new scholarly knowledge). In this model, publishing is communication, as the dissemination of information. But a club model views publishing differently: namely as group formation, where members form groups in order to confer externalities on each other, subject to congestion. A journal is a selfconstituted group, endeavouring to create new knowledge. In this sense, a journal is a club. The knowledge club model of a journal seeks to balance the positive externalities of a shared resource (readers, citations, referees) against the negative externalities of crowding (decreased prospect of publishing in that journal). A new economic model of a journal as a knowledge club is elaborated. We suggest some consequences for the management of journals and financial models that might be developed to support them.
    Metadata:
    Published as:
    Journal article    
    Status:
    Published
    Last Updated:
    1 year ago
    License:
    Attribution-NonCommercial
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