Exploring the Determinants of Scholarly Book Prices in the Fields of Science, Technology, and Medicine

This empirical study examines long-term and current book market trends and important factors affecting scholarly book prices in science, technology, and medicine (STM). It analyzes the market demand, supply, and prices of STM books and how they affect academic libraries' budgets. A semilogarith...

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Bibliographic Details
Published inLibrary trends Vol. 67; no. 2; pp. 255 - 285
Main Authors Liu, Lewis G, Gee, Harold, Terng, Charles
Format Journal Article
LanguageEnglish
Published Baltimore Johns Hopkins University Press 01.09.2018
Subjects
Academic libraries
Budgets
Collection analysis
Core curriculum
Costs
Decision making
E-books
Economics
Educational Objectives
Educational Technology
Expenditures
Higher education
Information professionals
Knowledge management
Librarians
Libraries
Library and information science
Library collections
Library managers
Library Personnel
Medicine
Periodicals
Prices
Publishing industry
Quality Assurance
Quality Control
Researchers
Scholarly publishing
Science
Statistical Analysis
Textbooks
Trends
University presses
United States > US
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Summary:This empirical study examines long-term and current book market trends and important factors affecting scholarly book prices in science, technology, and medicine (STM). It analyzes the market demand, supply, and prices of STM books and how they affect academic libraries' budgets. A semilogarithmic econometric model is formulated to explore the factors that affect STM book prices. Various product features, including book length, cover type, format, supplier types, and publication locations, are examined. The empirical results are mostly statistically significant, particularly for some key factors. The overall findings of this study have policy implications for academic libraries' books collections and acquisitions.
Bibliography:ObjectType-Article-1
SourceType-Scholarly Journals-1
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ISSN:0024-2594
1559-0682
1559-0682
DOI:10.1353/lib.2018.0036