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<td colspan="2" valign="top" class="bodytext"><strong><font color="#336699">"Mergers
Without Markets: Do Mergers Among Publishers of Academic Journals
Affect Prices?"</font></strong></td>
</tr>
<tr>
<td colspan="2" valign="top" class="bodytext"><font color="#CC6633"><strong>Duplantis,
Haar, <a href="../../economists/silberman.html"><font color="#CC6633">Silberman</font></a>, <!-- a href="../../economists/van_gieson.html" --><font color="#CC6633">Van
Gieson</font><!-- /a -->, and <a href="../../economists/warren_boulton.html"><font color="#CC6633">Warren-Boulton</font></a></strong></font><br>
<br>
<font color="#CC6633"><strong>Abstract: </strong></font><br>
Increases in the prices of academic journals over the past two decades have placed a significant strain on library budgets. Even though the industry is relatively unconcentrated and academics do not view journals or even journal articles as good substitutes for one another, recent research in the <em>American Economic Review</em> has suggested that the numerous mergers among journal publishers since 1990 have contributed significantly to these price increases, and has called for a new and idiosyncratic approach to product market definition in evaluating mergers in this industry. This paper discusses several analytical and methodological flaws in these findings and reports results based on different data. We conclude that the relationship between mergers and price changes in the academic journal industry is very poorly understood and that work to date does not provide a rationale for antitrust enforcement based on a definition of relevant product markets that is any different from that used in other industries. <br>
<br>
<font color="#333366">DRAFT – DO NOT QUOTE WITHOUT THE AUTHOR’S
PERMISSION.</font><br>
<br> <br>
<span class="mstyle">M</span>iCRA Working Paper No. 2 (November 4, 2005)<br>
® Copyright 2005, Renée Duplantis,
Daniel Haar,
Stephen Silberman,
Hal Van Gieson, and
Frederick Warren-Boulton<br>
<br>
<span class="mstyle">M</span>iCRA, Inc., 1155 Connecticut Avenue NW, Suite 900, Washington, DC, 20036 USA</p></td>
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