Author:

Keywords:

Open Access, Elsevier, Citations, Mirror Journals, Grants, Transformative Agreements, Economics of Publishing, Market Entry

Abstract:

The academic publishing market is considerable in its size, its highly oligopolistic structure, and the profits it extracts from researchers and their institutions. In this paper, I evaluate whether a citation advantage exists for open-access publications and whether new market entrants suffer from less recognition. To do so, I exploit a quasi-causal setting created by Elsevier. In 2019, the publisher launched its ‘X journals:’ Relying on the editorial process of their ‘parent journals,’ X journals were the fully open-access derivatives of established outlets. In parallel, Elsevier continued to offer authors an open-access option for their publications within the established outlets. Exploiting this threefold variation, I cannot detect any impact of open access on citations within the incumbent journals. However, a large and adverse effect exists for the novel journals. This ‘X factor’ represents a nonnegligible entry barrier for potential competitors in the publishing market. One potential way to mitigate this can be strict open-access requirements for publications supported by grants. My findings highlight the challenges on the way to more open access and stronger competition in the academic publishing market.