revised academic journal pricing and market power a portfolio approach mark j mccabe school of economics georgia institute technology march 2000 abstract library demand for journals is unique cost per citation minimized across broad field study subject to budget constraint the result portfolios titles this paper describes structure develops two stage model in publishers may find it profitable increase size their via mergers using data some one thousand biomedical i estimate several empirical models including structural that able identify impact past results indicate highly inelastic quality adjusted price increases have been substantial over decade contributed these acknowledgments would like thank many my former colleagues at department justice david reitman dan rubinfeld russ pittman greg werden renata hesse aaron hoag craig conrath as well o brien federal trade commission richard quandt roger noll steve salop margaret slade
