The true costs of scholarly journal publishing

ABSTRACT There has been much debate recently about whether publishers' prices are too high, and what publishing a journal article really costs. Publication of the article in a journal is only one part of the cost of research communication; first of all there are the costs of research and writing, then the costs of peer review, editing and publication, and finally the costs of acquisition by the library, management, storage, reading by the end user and long‐term preservation. Several studies have been conducted of these different costs; the results are summarized and the potential impact, both on costs and on sources of funds, of moving to an alternative, ‘author‐funded’ open access model is considered.