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

    257715.pdf (206.7Kb)
    Access Status
    Open access
    Authors
    Potts, J.
    Hartley, John
    Montgomery, Lucy
    Neylon, C.
    Rennie, E.
    Date
    2017
    Type
    Journal Article
    
    Metadata
    Show full item record
    Citation
    Potts, J. and Hartley, J. and Montgomery, L. and Neylon, C. and Rennie, E. 2017. A journal is a club: a new economic model for scholarly publishing. Prometheus. 35 (1): pp. 75-92.
    Source Title
    Prometheus (United Kingdom)
    DOI
    10.1080/08109028.2017.1386949
    ISSN
    0810-9028
    School
    Department of Internet Studies
    Remarks

    This is an Author's Original Manuscript of an article published by Taylor & Francis in Prometheus on 31/10/2017, available online at http://www.tandfonline.com/10.1080/08109028.2017.1386949

    URI
    http://hdl.handle.net/20.500.11937/59451
    Collection
    • Curtin Research Publications
    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 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 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.

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