A Journal is a Club: A New Economic Model for Scholarly Publishing

A new economic model for 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 that 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 self-constituted 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 due to a shared resource (readers, citations, referees) against negative externalities due to 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.

URL : http://ssrn.com/abstract=2763975

Interconnection among Academic Journal W…

Interconnection among Academic Journal Websites: Multilateral versus Bilateral Interconnection :
Electronic academic journal websites provide new services of text and/or datamining and linking, indispensable for efficient allocation of attention among abundant sources of scienti…c information. Fully realizing the benefitt of these services requires interconnection among websites. Motivated by CrossRef, a multilateral citation linking backbone, this paper performs a comparison between multilateral interconnection through an open platform and bilateral interconnection, and finds
that publishers are fully interconnected in the former regime while they can be partially interconnected in the latter regime for exclusion or di¤erentiation motives. Surprisingly, if partial interconnection arises for di¤erentiation motive, exclusion of small publisher(s) occurs more often under multilateral interconnection. We also find that in the case of multilateral interconnection, a for-profit platform induces
less exclusion than an open platform. Various other extensions are analyzed.

URL : http://bit.ly/b0qltV