How is it that publishers can continue to make profits of 30–40%? How can Elsevier get away with charging, as described in the film, $10,702 for an annual subscription to Biomaterials? It’s partly that if you are a major research university you need access to all journals not just some of them, says Richard Price of Academia.edu, a platform for academics to share research papers. It’s a question of moral hazard, explains Stuart Shieber, a Harvard professor of computer science: the consumers of the research, the academics, are not the people who have to pay. It’s the libraries who pay, and the academics remain insensitive to price…..
In addition, publishers sell bundles of journals. It’s like cable television, you get a few things you do want along with a lot you don’t, explains one librarian. But unlike cable television you don’t know what others are paying—because publishers do secret deals with libraries.
Yes. But it speaks volumes about universities, too.