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A model of scholarly publishing with hybrid academic journals

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Abstract
In April 2013, all of the major academic publishing houses moved thousands of journal titles to an original hybrid model, under which authors of accepted papers can choose between an expensive open access track and the traditional track available only to subscribers. This paper argues that authors might use publication strategy as a quality signaling device. The imperfect information game between authors and readers presents several types of Perfect Bayesian Equilibria, including a separating equilibrium in which only authors of high quality papers are driven toward the open access track. The publishing house will choose the open-access publication fee that supports the emergence of the highest return equilibrium. Journal structures will evolve over time according to the journals' accessibility - quality profiles.

Suggested Citation

  • Besancenot, Damien & Vranceanu, Radu, 2014. "A model of scholarly publishing with hybrid academic journals," ESSEC Working Papers WP1406, ESSEC Research Center, ESSEC Business School.
    • Handle: RePEc:ebg:essewp:dr-14006
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    File URL: http://hal-essec.archives-ouvertes.fr/docs/00/97/15/41/PDF/WP1406.pdf
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    References listed on IDEAS

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    1. Mathias Dewatripont & Victor Ginsburgh & Patrick Legros & Alexis Walckiers, 2007. "Pricing of Scientific Journals and Market Power," Journal of the European Economic Association, MIT Press, vol. 5(2-3), pages 400-410, 04-05.
    2. Gaulé, Patrick & Maystre, Nicolas, 2011. "Getting cited: Does open access help?," Research Policy, Elsevier, vol. 40(10), pages 1332-1338.
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    3. Doh-Shin Jeon & Jean-Charles Rochet, 2010. "The Pricing of Academic Journals: A Two-Sided Market Perspective," American Economic Journal: Microeconomics, American Economic Association, vol. 2(2), pages 222-255, May.
    4. In-Koo Cho & David M. Kreps, 1987. "Signaling Games and Stable Equilibria," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 102(2), pages 179-221.
    5. Damien Besancenot & Kim Huynh & Joao Faria, 2012. "Search and research: the influence of editorial boards on journals’ quality," Theory and Decision, Springer, vol. 73(4), pages 687-702, October.
    6. Besancenot, Damien & Vranceanu, Radu, 2008. "Can incentives for research harm research? A business schools' tale," Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), Elsevier, vol. 37(3), pages 1248-1265, June.
    7. McCabe Mark J & Snyder Christopher M., 2007. "Academic Journal Prices in a Digital Age: A Two-Sided Market Model," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 7(1), pages 1-39, January.
    8. Aviv Nevo & Daniel L. Rubinfeld & Mark McCabe, 2005. "Academic Journal Pricing and the Demand of Libraries," American Economic Review, American Economic Association, vol. 95(2), pages 447-452, May.
    9. Mark J. McCabe & Christopher M. Snyder, 2015. "Does Online Availability Increase Citations? Theory and Evidence from a Panel of Economics and Business Journals," The Review of Economics and Statistics, MIT Press, vol. 97(1), pages 144-165, March.
    10. Aaron S. Edlin & Daniel L. Rubinfeld, 2005. "The Bundling of Academic Journals," American Economic Review, American Economic Association, vol. 95(2), pages 441-446, May.
    11. Michael Spence, 1973. "Job Market Signaling," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 87(3), pages 355-374.
    12. Mark J. McCabe & Christopher M. Snyder, 2005. "Open Access and Academic Journal Quality," American Economic Review, American Economic Association, vol. 95(2), pages 453-459, May.
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    Cited by:

    1. Mark J. McCabe & Christopher M. Snyder, 2021. "Cite unseen: Theory and evidence on the effect of open access on cites to academic articles across the quality spectrum," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 42(8), pages 1960-1979, December.
    2. João R. Faria & Rajeev K. Goel & Neela D. Manage, 2024. "The path of economics research production: Insights into the seesaw between theory and empirics," American Journal of Economics and Sociology, Wiley Blackwell, vol. 83(4), pages 753-772, September.
    3. Damien Besancenot & Radu Vranceanu, 2015. "Fear Of Novelty: A Model Of Scientific Discovery With Strategic Uncertainty," Economic Inquiry, Western Economic Association International, vol. 53(2), pages 1132-1139, April.
    4. Abdelghani Maddi, 2021. "Game theory and scholarly publishing: premises for an agreement around open access," Papers 2106.13321, arXiv.org, revised Dec 2021.
    5. Abdelghani Maddi & David Sapinho, 2022. "Article processing charges, altmetrics and citation impact: Is there an economic rationale?," Scientometrics, Springer;Akadémiai Kiadó, vol. 127(12), pages 7351-7368, December.
    6. repec:hal:cepnwp:hal-01117929 is not listed on IDEAS
    7. Abdelghani Maddi & David Sapinho, 2021. "Article Processing Charges based publications: to which extent the price explains scientific impact?," Papers 2107.07348, arXiv.org.
    8. Besancenot, Damien & Vranceanu, Radu, 2024. "Reluctance to pursue breakthrough research: A signaling explanation," Research Policy, Elsevier, vol. 53(4).
    9. Giuseppe Pernagallo, 2023. "Science in the mist: A model of asymmetric information for the research market," Metroeconomica, Wiley Blackwell, vol. 74(2), pages 390-415, May.
    10. Abdelghani Maddi & David / Sapinho, 2022. "Article Processing Charges, Altmetrics and Citation Impact: Is there an economic rationale?," Post-Print hal-03552377, HAL.

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    More about this item

    Keywords

    Academic publishing; Open access; Knowledge di¤usion; Imperfect information; Signaling;
    All these keywords.

    JEL classification:

    • A14 - General Economics and Teaching - - General Economics - - - Sociology of Economics
    • D52 - Microeconomics - - General Equilibrium and Disequilibrium - - - Incomplete Markets
    • L23 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Organization of Production

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