Crisis and transition: the economics of scholarly communication 167
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1 Crisis an transition: the economics of scholarly communication 167 Learne Publishing (2001)14, Introuction The unerlying aim of the report from which this paper is rawn 1 was to escribe an scope the present system for scholarly communication, an to explore the economics that govern it. We looke at: what is happening in scholarly communication; how the scholarly communication system works; the scope of activities within the system; the relationships between players in the system; the cost an incentive structures unerpinning the creation, prouction an istribution of scholarly content; an the unerlying economics of scholarly communication. Backgroun an context In the context of the knowlege-base economy, innovation an the capacity of the national innovation system to create an isseminate the latest scientific information are becoming increasingly funamental eterminants of national prosperity. Inee, it has been observe that prosperity in a knowlege economy epens as much upon the knowlege istribution power of the system as its knowlege prouction power. 2 So it is essential that the scholarly communication system provie cost-effective access to information in support of research an eucation. However, there is a crisis in scholarly communication a crisis born of a combination of funamental technological change an system ysfunction. In Australia, as elsewhere, universities an research organizations are uner increasing funing pressures. There is greater focus on the efficient allocation of resources, an on achieving emonstrable return on investment in those resources. At the same time, the information technology revolution Crisis an transition: the economics of scholarly communication John W. Houghton Centre for Strategic Economic Stuies, Victoria University, Australia John W. Houghton 2001 ABSTRACT: This paper explores the scholarly communication inustry using a prouct systems approach, scopes an sizes the Australian scholarly communication prouct system, an examines the economics behin its operation. We fin that the set of interrelationships between the market characteristics of information an cost structures, patterns of eman an acquisition practices, an the forces encouraging increasing scholarly output go a long way towars explaining the operation of the system an the genesis of the crisis. Base on our economic analysis of the system, we outline broa market conforming an market istorting approaches to alleviating the crisis. L E A R N E D P U B L I S H I N G V O L. 1 4 N O. 3 J U LY
2 168 John W. Houghton Figure 1 Serial an monograph prices pai by Australian research libraries, (% change) Note: Preliminary ata for an aggregation of Australian university libraries. Source: CAUL. CAUL Statistics, Canberra: Council of Australian University Librarians, 1999 ( the unit cost of journals increase by a staggering 474% is affecting the ways in which research an eucation are conucte, an placing new emans on the scholarly communication system. Recent years have seen rapi increases in the price of scholarly content especially journals in the science, technology, an meical areas. These increases are significantly above the unerlying rate of inflation, an they are exacerbate by the increase in publication output. In Australia, the ecline of the Australian ollar against currencies in which scholarly information resources must be purchase as an aitional buren. Between 1986 an 1998, the number of journal subscriptions in Australian university libraries ecline by 37%, but expeniture on them increase by 263% an the unit cost of journals increase by a staggering 474% (Figure 1). The prouct systems approach To escribe the scholarly communication system we aopte a prouct systems approach, focusing on linkages between actors in a complex system that affects the transformation of activities an materials into goos an services through the processes of creation, prouction, an istribution. 3 This approach enables us to istinguish between, rather than confuse, the economics of each of the key stages in the learne publication process namely creation, prouction, an istribution. The scholarly communication prouct system inclues five major elements. 1. At the centre are the publishers engage in the prouction of content-base proucts an services. These inclue commercial, institutional, an membership-base publishers (such as professional associations). 2. The supply network for these publishers inclues the creators of content the authors an eitors, an suppliers of materials an equipment to the printing an publishing inustries. 3. The istribution network for their proucts inclues all the clients of publishers, incluing: the channel wholesalers, retailers, consoliators, aggregators, istribution an subscription agents; public an private research libraries, state an national libraries, an ocument suppliers; an iniviual institutional purchasers an subscribers. These three groups form the core value chain of creation, prouction, an istribution. Their activities are unerpinne by a collective support infrastructure, an are subject to an overarching regulatory framework (Figure 2). L E A R N E D P U B L I S H I N G V O L. 1 4 N O. 3 J U L Y
3 Crisis an transition: the economics of scholarly communication 169 Figure 2 The scholarly communication prouct system Source: Houghton, J.W. Economics of scholarly communication: a iscussion paper. Canberra: Coalition for Innovation in Scholarly Communication, 2000, 13 ( Communication.pf). 4. The collective support infrastructure inclues: the research an eucation funing agencies which suppor t the research an eucation activities that both create an consume scholarly content; various kins of infrastructure, incluing: research, eucation an library infrastructure such as builings an equipment; information technology infrastructure incluing internet, network equipment an services; an reprouction rights an collection agencies such as CAL in Australia; an eucation an training infrastructure incluing a range of technical an professional training institutions. 5. The regulatory framework for scholarly communication inclues: intellectual property regulation such as copyright an licensing; content regulation such as censorship an privacy; telecommunications an broacasting regulation; an professional regulation incluing professional qualification stanars, regulate access to practice as a professional, an professional coes of conuct. In short, the scholarly communication prouct system inclues all the activities an actors (stakeholers) involve in the creation, prouction, an istribution of scholarly content. The scholarly communication prouct system A major section of the report from which this paper is erive 4 escribes the scholarly communication prouct system, focusing on the core value chain of content creation (authoring an eiting), prouction (publishing), an istribution (especially by research libraries). We examine each section of the prouct system in turn, looking at the actors an activities involve. A review of eucation an research activities suggests that scholarly content creation involves up to 200,000 Australians, whose activities are supporte by annual expenitures well in excess of $Aus 10 billion the vast majority of which comes from government. They prouce aroun 25,000 journal papers an perhaps as many as 5,000 book titles a year. The network of specialist suppliers to the publishing an printing inustries in Australia, employs a further content creation involves up to 200,000 Australians L E A R N E D P U B L I S H I N G V O L. 1 4 N O. 3 J U LY
4 170 John W. Houghton Figure 3 Approximate scale of activities in the scholarly communication prouct system in Australia, 1999 Source: Houghton, J.W. Economics of scholarly communication: a iscussion paper. Canberra: Coalition for Innovation in Scholarly Communication, 2000, 47. ( Communication.pf). Australia is a net importer of printe materials 73,500 people an realizes annual turnover in excess of $Aus 12 billion. 5 Publishing is a global inustry. There is a relatively small number of large multinational commercial publis hers with significant portfolios of titles, an a very large number of small, niche publishers. The publishing inustries in Australia employ aroun 42,000 people, but most of these are in newspaper publishing. There are 6,750 people employe by perioical publishers, an a further 5,400 employe by book publis hers. Combine annual perioical an book publis hing turnover is aroun $Aus 2.4 billion. 6 Australia is a net importer of printe materials. During 1999, exports of publications an printe matter from Australia amounte to $Aus 135 million, while imports reache almost $Aus 795 million. Forty per cent of these imports came from the Unite States, 37% from the Unite Kingom, 11% from China (incluing Hong Kong), an 7% from Singapore. 7 Perhaps $Aus 260 million of these imports coul be consiere part of the scholarly communication system (Figure 3). There are more than 10,000 libraries in the istribution network in Australia, with aroun 50 being university an other specialist research libraries. Australian university libraries spent $Aus 94 million on journal subscriptions in 1998, an a further $Aus 44 million on books. They pay an aitional $Aus million per year for copying. Specialist research centres, public an corporate research, an law libraries may well have spent as much again. Clearly, the scholarly communication prouct system involves a wie range of activities that are important to the Australian economy, both in terms of their sheer size (reflecte in numbers of jobs an financial resources involve) an in terms of the importance of the scholarly communication system as an infrastructure for the emerging knowlege economy an infrastructure which plays a key role in the communication an issemination of ieas. The economics of scholarly communication Explor ing some of the economic issues involve in the creation, prouction, an istribution of scholarly content we examine the incentive structure, how it shapes what is happening, some of the issues L E A R N E D P U B L I S H I N G V O L. 1 4 N O. 3 J U L Y
5 Crisis an transition: the economics of scholarly communication 171 involve, an some of the economic arguments that are iscusse in the literature. Looking more generally at the economics of knowlege an information, we suggeste that the commonly use istinction between tacit an coifie knowlege highlights an important economic characteristic. Namely, that while knowlege is a pure public goo, information is not. Hence, as information proucts, scholarly books an journals cannot be treate as public goos, an it is unrealistic to expect them to be freely available. Nevertheless, information is, basically, non-rivalrous in consumption. If one person consumes a cheese sanwich it is gone. No one else can consume it. If, however, one person reas a journal article an gains knowlege from it, the information in the article remains. Any number of people can consume it again. This scarcity efying expansiveness of knowlege is one of its most important efining features. 8 It means that ieas an information exhibit very ifferent characteristics from the goos an services of the inustrial economy. The social value of ieas an information increases to the egree they can be share with, an use by, others. The more such items are consume, the greater the social return on investment in them. So social returns are maximize through expansion of access an wie issemination, not by limiting access an exclusion. It is important to unerstan what the prouct is, an where the value lies in the scholarly communication system. Many assume that the prouct is content. In one sense, of course, it is. But that is not the whole story. Information is an experience goo. Until you have bought an consume the information you o not know its value, an once you have it is too late to ecie not to buy it. So the ecision to buy is not mae on the basis of the content, irectly, but on the basis of other cues. For example, a researcher new to a fiel might make extensive use of abstracting an keywor searching to ientify articles to rea. More experience researchers might use other signals, e.g. who the authors are, the institutional affiliation of the authors, knowing the work of the eitor an eitorial boar members, the title of the journal, or the bran the publisher an publishing stable. Because the ecision to consume is mae in these ways, these things become important sources of value. Content may be king, but authorship, quality control, an braning are major eterminants of value. The economics of content creation There are important, an in some ways highly negative, institutional incentives unerpinning the creation of scholarly content. Promotion, tenure, an funing allocations in universities an research institutions are often linke to publication in a few, key, referee journals. This structure of institutional incentives appears to be creating a wiening gap between publication, on the one han, an scholarly communication an issemination, on the other. With eclining circulation, print publishing is not serving the nee for issemination an communication as well as it might. Looking at some of the alternative moels for scholarly communication suggeste in the literature, an at some of the issues involve in those alternatives, we suggest that: payments by authors to publishers have a number of negative implications for scholarship (e.g. publication accoring to means, rather than merit) an face high transactions costs; payments to authors face similarly high transaction costs, an simply raise prouction costs an thereby prices; self publishing may not reuce costs as much as expecte, may not meet the nee for wie issemination, an may unermine some of the value in the present system in, for example, selection, quality control, braning, an cuing; an the success of preprint servers is likely to be greater in the natural sciences, where there is less selecting out, than in the humanities, an in theoretical iscourses rather than applie iscourses. Aligning the interests of publication an issemination by creating a positive set of institutional incentives, through changing Information is an experience goo L E A R N E D P U B L I S H I N G V O L. 1 4 N O. 3 J U LY
6 172 John W. Houghton Dual moe publication simply increases costs the performance criteria commonly use in universities an research institutes, is an essential reform. The economics of prouction Looking at the economics of prouction or publication, we examine the incentives facing publis hers, prouction costs, an various publishing business moels. We also explore the issues of competition an concentration in scholarly publishing. One of the ifferences between a resource-base an a knowlege-base economy is that proucers are more likely to face increasing, rather than ecreasing, returns. In the absence of other intervening forces, increasing returns result in concentration fewer, larger firms. So it is not surprising that there are few large commercial publishers, or that they are growing both organically an through mergers an acquisitions. Inee it woul be surprising if it were otherwise. The key question is: are these potential monopolies sustainable? If they are, then it is possible that monopoly power will be exercise in the market place. If not, monopoly power is less likely to be a longer-term problem. Swimming somewhat against the tie of economic analysis, John Kay has suggeste that the fear of concentration an the evelopment of winner-takes-all markets in the knowlege economy is exaggerate. Kay contens that the expansion of the knowlege economy will create a proliferation of materials, firms, an activities at all points an at all levels; suggesting that no one can expect to enjoy continue control of these markets. Kay suggests that it is misconceive to think that the key lies in being at the point of elivery of the prouct, the low cost an ease of access to the elivery mechanism (the internet) mean that the rents are riven own at the elivery level, an instea migrate back up the value chain to those with genuinely scarce factors an competitive avantages. 9 If these genuinely scarce factors an avantages rest with the content creators (authors), then electronic publishing promises to eliver scholarly communication from the hans of commercial publishers into those of the creators. If, on the other han, they rest with bran holers, who turn the quality control an selection processes into key imensions of value in their proucts, then electronic publishing may not revolutionize the structure of the scholarly publishing inustry as much as most people seem to expect. But, if Kay is right, commercial publishers can expect competition from a wier range of players in the scholarly communication system than is currently the case, an from new emerging players that are not yet a part of the system. Prouction costs The key features of publishing costs in the print environment are: high first copy costs, low marginal costs; high article processing costs approximately 45% of total prouction costs; high marketing an aministration costs approximately 28% of total; an low physical istribution costs. 10 Significant cost savings coul be mae by streamlining or obliterating journal article processing activities, but because istribution costs are a relatively small part of total costs, electronic istribution (of itself) is unlikely to lea to major cost savings for publishers. Unless the whole process is geare to purely electronic publication, cost savings may be relatively moest. Dual moe publication (print an electronic) simply increases costs. Moreover, there are significant infrastructure an transitional costs involve in shifting from a print to an online environment for both publishers an libraries. Pricing information It has sometimes been suggeste that some commercial publishers are charging prices for some serials that bear little relation to prouction costs. 11 There are a number of reasons why this might be so. Firstly, publis hers might be spreaing costs across a range of journal titles using high volume titles to cross-subsiize lower volume titles. This woul see prices increasing faster than costs if there were a lot of new, low-volume titles emerging, thereby L E A R N E D P U B L I S H I N G V O L. 1 4 N O. 3 J U L Y
7 Crisis an transition: the economics of scholarly communication 173 increasing aggregate fixe costs. Clearly, as King an Tenopir emonstrate, this is a part of what is happening. 12 Seconly, publishers might be exercising monopoly power an reaping rents. These rents may or may not be realize as profits. It is not uncommon for monopolists or oligopolists to gol plate spen more on prouction than is really necessary or simply be inefficient. Monopolists are spare the effort of being efficient, because they can simply increase prices to cover their costs. Hence, the fact that some major commercial publishers realize relatively moest margins oes not prove that they are not enjoying monopoly power. However, realizing high margins is suggestive of monopoly power, an we note that Microsoft is one of the few major companies in the worl regularly achieving higher operating margins than Ree Elsevier. 13 Thirly, publishers may be unsure about pricing. With high first copy an very low or near zero marginal costs typical in information goos, one cannot expect to see the marginal cost pricing seen in manufacturing. When marginal cost is close to zero, marginal cost pricing is a bol business strategy. That is not to say that it is all that unusual. When Microsoft entere the web browser market with Explorer it was free (zero price), an Netscape respone by making its browser free. Similarly, many internet gateways, portals, search engines, etc., are free, an free-to-air television is free. Of course, these things are usually either avertiser supporte or bunle with something that is not free. Unerstaning bunling is critical. Fourthly, charging what the market will bear has negative connotations, but in an information business perhaps it shoul not. If consumers have full information an can make rational consumption choices, then what they are prepare to pay (what the market will bear) shoul reflect value in use. This suggests that either the consumers lack sufficient information to make rational purchasing choices, or the value in use is increasing, or both. Value in use might be increasing because: information an communication technologies are increasing access to an/or knowlege about the content, an thereby broaening its consumption an increasing eman; increase value is being place on, an resources evote to, eucation an/or research, leaing to either increase efficiency in the use of content or a biing up of input prices; an/or the increase ability of the economy to make economic use of eucation an/or research is increasing the social return to investments in eucation an/or research, an thereby the value of their inputs. In short, if the economic value of knowlege goes up, then one might expect the value of the content that is an artefact of that knowlege, an/or an input to it, to go up too. Perhaps the increasing value of knowlege is a funamental part of the emergence of the knowlege economy. Whether or not consumers have sufficient information to make rational purchasing choices epens on the system of istribution. The economics of istribution There are a number of important things to note about the print purchasing practices of research libraries over recent years. Namely: journal titles an books typically compete with each other as substitutes across broa fiels, rather than being consiere separately; the buget for purchasing in each fiel has typically been etermine by the strategic priorities of the institution, such that titles across fiels o not compete on cost per use; the buget for each fiel has been etermine largely inepenently of price information, an largely inepenently of eman or usage information; the buget allocations to each fiel have taken little or no account of price per use across fiels; an price signals have rarely reache enusers. 14 These features of the print publication acquisition system a up to two relate things: (i) an almost complete failure of price signals have rarely reache en-users L E A R N E D P U B L I S H I N G V O L. 1 4 N O. 3 J U LY
8 174 John W. Houghton improving the transmission of price signals to the consumer shoul be a priority Figure 4 A feeback loop of escalating prices for scholarly content Source: Houghton, J.W. Economics of scholarly communication: a iscussion paper. Canberra: Coalition for Innovation in Scholarly Communication, 2000, 84 ( EconomicsScholarlyCommunication.pf). market signals especially of price signals to the en-users; an (ii) very low price elasticity of eman with large price changes having relatively little effect on eman. In general, wherever one sees low price elasticity of eman, one sees high prices; an wherever one sees high price elasticity of eman, one sees low prices. So improving the transmission of price signals to the consumer shoul be a priority for anyone who wants to see lower prices. Inee it is notable that in the projects an trials where price signals are transmitte to en-users in an online elivery system, such as OhioLink an PEAK, reporte an implie price elasticities of eman appear to be much higher than in the traitional library-print system. A vicious circle To summarize, there has been a feeback loop operating in the print-base scholarly publication system in which: authors seek new publication outlets, introucing new titles; new titles emerge, increasing aggregate first copy costs; publisher portfolios grow; prices increase, lowering circulation; unit costs increase, to cover fixe costs; an so it goes on (Figure 4). The set of interrelationships between the market characteristics of information an cost structures, patterns of eman an acquisition practices, an the forces encouraging increasing scholarly output go a long way towars explaining the operation of the scholarly communication prouct system an the genesis of the, so calle, crisis. The challenge is to fin points of leverage at which this vicious circle can be broken. The way forwar It is impossible in a short paper to reflect the complexity of the issues. There is no obvious solution, no single solution, an no easy solution to the ifficulties currently face by those seeking the cost-effective issemination of scholarly information. Nevertheless, at the level of general principle one can see broa avenues for action. If the problem can simply be state as stemming from high prices, then: if, on the one han, we believe that prices reflect the costs of prouction, we must reuce costs in orer to reuce prices; if, on the other han, we believe that prices reflect what the market will bear, we must either ensure that what the market will bear reflects value in use, or reuce what the market will bear, in orer to reuce prices. Market conforming approaches to the crisis in scholarly communication woul involve pursuing avenues that improve the transmission of market signals throughout the scholarly communication prouct system, creating a coherent an effective structure of incentives throughout the system, an increasing competition in scholarly publication. Improving the transmission of market signals might be achieve by such means as: increasing the price elasticity of eman by sening price signals an evolving choice to the en consumer; increasing competition between titles by introucing greater flexibility in buget allocations; an increasing prouct ivisibility by using L E A R N E D P U B L I S H I N G V O L. 1 4 N O. 3 J U L Y
9 Crisis an transition: the economics of scholarly communication 175 mixe subscription an on-request pricing moels. Creating an effective structure of incentives throughout the scholarly communication prouct system is essential. By tying promotion, pay, tenure, research funing, an other basic rewars to publication in a few, key, referee journals in each fiel, universities an research institutions have create a ysfunctional system of incentives. Reform is require to the institutional incentives facing authors, in orer to (re)align the goals of publication an issemination, an the interests of authors an reaers. Encouraging competition in the scholarly communication inustry might involve a variety of things aime at eveloping new mechanisms for communication, publication, an issemination, an encouraging new entrants to join the scholarly publishing inustry. These might inclue: exploring a wier range of electronic communication, issemination, an publishing options; starting new publishe journals or collections; eveloping alternative win win business moels for publishers an their clients; exploring more raical bunling an/or price iscrimination moels; encouraging the entry of new players; an extening the use of preprint server style publication, in combination with exploring ways to overcome the quality control an authenticity issues. Market istorting approaches to the crisis in scholarly communication might inclue consortial purchasing an national site licensing, which operate by confronting proucer (publisher) power in the marketplace with increase purchaser power i.e. fighting monopoly with monopsony. A national site licence approach, such as that aopte in Canaa, implies government intervention an financial suppor t. Consortial purchasing simply recognizes the common nees an funing sources of research libraries, an provies the opportunity for them to exercise their collective purchasing power in the market place. Both provie avenues for aressing the crisis, or at least turning the tie an buying time uring which the transition from the printbase to an entirely electronic system can be worke through. Scholarly communication in transition The scholarly communication system is in the relatively early stages of a transition from print publis hing to online communication an issemination, a transition as funamental as that facing any inustry as we move into the knowlege economy era an go online. This transition comes on top of a crisis in prices. While in the long run online communication, publication, an issemination may provie the basis for a solution to the crisis, in the short term it is simply exacerbating it. Players throughout the scholarly communication prouct system, especially in publishing an istribution, must evelop new skills an organizational competencies suitable for the online environment, implement new proceures an practices, evelop new business moels, an buil an/or call into being an online scholarly communication infrastructure, while at the same time maintaining the existing print paraigm. Australia is relatively well avance in terms of aopting the online publishing an istribution paraigm, with some institutions going entirely electronic an abanoning their print journal collections. Other institutions are slower to change, an they face aitional harship because they are trying to operate a ual moe (print an online) system, with all the aitional overhea costs that that implies. It is important to realize that espite the enormous promise of igitalization, there are significant transitional costs involve in moving from the print to the online paraigm: costs that universities, research institutes, an research libraries are fining extremely ifficult to bear. The crisis in scholarly publishing an the challenge of electronic publishing are typical of technological change. The first reaction to technological opportunity is almost always to automate what one is currently oing. But it is rarely the real answer. The Reform is require to the institutional incentives facing authors L E A R N E D P U B L I S H I N G V O L. 1 4 N O. 3 J U LY
10 176 John W. Houghton pay-off from new technological opportunities comes when one uses the technology to o things ifferently an/or to o new things. It is unlikely that simply publishing journals electronically is the answer. The challenge is to work out what to o ifferently an what new things to o, to facilitate the cost-effective communication an issemination of ieas. References 1. This paper summarizes a report prepare for, an fune by, the Coalition for Innovation in Scholarly Communication in Australia: Houghton, J.W. Economics of Scholarly Communication: A Discussion Paper, Canberra: Coalition for Innovation in Scholarly Communication, 2000 ( EconomicsScholarlyCommunication.pf). 2. OECD. National Innovation Systems. Paris: OECD, See, for example, Gann, D. Construction as a manufacturing process? Similarities an ifferences between inustrialise housing an car prouction in Japan. Construction Management an Economics 1996:14, ; Gann, D. Technology an inustrial performance in construction. Paper prepare for the OECD Directorate for Science, Technology an Inustry. Paris: OECD, 1997; Gann, D. an Slater, A. Learning an innovation management in project-base firms. Paper for the 2n International Conference on Technology Policy an Innovation, Lisbon, 1998; Houghton, J.W., Grieg, A.W. an Marceau, J. Mapping the Textile, Clothing, Leather an Footwear Inustries Cluster. Syney: AEGIS 1999; Houghton, J.W., Tonar, P. an Marceau, J. Mapping the Builing an Construction Inustries Cluster. Syney: AEGIS, 1998 ( an Houghton, J.W., Pappas, N. an Sheehan, P. New manufacturing: one approach to the knowlege economy. CSES Working Paper 12. Melbourne: Victoria University, 1999 ( 4. Houghton, J.W. Economics of scholarly communication: a iscussion paper. Canberra: Coalition for Innovation in Scholarly Communication, 2000 (www. caul.eu.au/cisc/economicsscholarlycommunication. pf). 5. Ibi., Ibi., TraeData, 2000 ( 8. DTI. Economics of the Knowlege Driven Economy, Conference Proceeings, Lonon: Department of Trae an Inustry, 1999 ( economiccontents.htm). 9. Kay, J. Business strategy in the knowlege riven economy. In Economics of the Knowlege Driven Economy, Conference Paper. Lonon: Department of Trae an Inustry, 1999, 33 ( economiccontents.htm). 10. King, D.W. an Tenopir, C. Economic cost moels of scientific scholarly journals. Proceeings of ICSU Workshop, University of Oxfor, 31 Mar. 2 Apr See, for example, Wyly, B.J. Competition in scholarly publishing? What publisher profits reveal. ARL Newsletter, 1998:Oct., 7 13 ( 200/wyly.html) an Olyzko, A. The economics of electronic publishing. Journal of Electronic Publishing 1998:4(1) ( html). 12. King, D.W. an Tenopir, C. Economic cost moels of scientific scholarly journals. Proceeings of ICSU Workshop, University of Oxfor, 31 Mar. 2 Apr Wyly, B.J. Competition in scholarly publishing? What publisher profits reveal. ARL Newsletter, 1998: Oct., 7 13 ( an Houghton, J.W. Economics of scholarly communication: a iscussion paper. Canberra: Coalition for Innovation in Scholarly Communication, 2000 ( EconomicsScholarlyCommunication.pf). 14. McCabe, M.J. The impact of publisher mergers on journal prices: a preliminary report. ARL 200, 1998 ( Note: What is CISC? Following a workshop hel in Canberra on 3 4 March 1999, an Avisory Committee was establishe to foster wiesprea ownership of the agena for change in scholarly communications through the evelopment of a series of promotional an collaborative strategies. It has representatives from university libraries, the Acaemies, the Australian Vice-Chancellors Committee, the Australian Research Council, the CSIRO, an the Department of Eucation, Training an Youth Affairs. The name, Coalition for Innovation in Scholarly Communication, was selecte by the Avisory Committee as an appropriate ientification of the broa, yet informal, group of stakeholers represente at the workshop. See John W. Houghton PO Box 14428, Melbourne City MC Victoria 8001, Australia John.Houghton@ pobox.com Website: houghton L E A R N E D P U B L I S H I N G V O L. 1 4 N O. 3 J U L Y
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