A journal is a club: a new economic model for scholarly publishing
MetadataShow full item record
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.
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
Showing items related by title, author, creator and subject.
Osseiran-Moisson, Rebecca (2011)Chronic diseases such as cardiovascular diseases and diabetes can be prevented by acting on risk factors such as tobacco use, an unhealthy diet and lack of exercise. As behaviour is influenced at multiple levels, individual ...
Montgomery, Lucy (2014)This special issue of Cultural Science Journal is devoted to the report of a groundbreaking experiment in re-coordinating global markets for specialist scholarly books and enabling the knowledge commons: the Knowledge ...
Woodside, Arch (2016)Under the “Metrics” link, Google.com/scholar ranks the top twenty journals by impact in 16 subcategories of “business, economics, and management” (e.g., accounting and taxation, economics, finance, marketing, strategic ...