The Economics of Scientific Publishing
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Date
2023
Authors
Journal Title
Journal ISSN
Volume Title
Publisher
The JOURNAL OF BIOLOGY AND MEDICINE
Abstract
The peculiar nature of scientific publishing has allowed for a high degree of market concentration and
a non-collusive oligopoly. The non-substitutable characteristic of scientific journals has facilitated an
environment of market concentration. Acquisition of journals on a capabilities-based approach has seen
market concentration increase in favor of a small group of dominant publishers. The digital era of scientific
publishing has accelerated concentration. Competition laws have failed to prevent anti-competitive
practices. The need for government intervention is debated. The definition of scientific publishing as
a public good is evaluated to determine the need for intervention. Policy implications are suggested to
increase competitiveness in the short-run and present prestige-maintaining alternatives in the long run. A
fundamental change in scientific publishing is required to enable socially efficient and equitable access for
wider society’s benefit
Description
Keywords
competition, government intervention